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EDF Trading to Purchase 25% Interest in Retail Supplier Holding Company EDF Trading North America, LLC is to purchase a 25% interest in a retail supplier holding company under a subscription agreement.
Specifically, AP Holdings, LLC and EDF Trading North America, LLC sought FERC approval of a transaction under which EDF Trading will purchase Common Units of AP Holdings representing 25 percent of the fully-diluted outstanding units of limited liability company interest in AP Holdings.
The remaining 75% of AP Holdings, LLC will be retained by APG&E Holdings, LLC.
The primary business of AP Holdings is the marketing of electricity and natural gas products and services at retail in various retail markets within the United States. Such operations are conducted through various AP Holdings subsidiaries, which were created to operate as retail marketers in Pennsylvania, Texas, Maryland, Ohio, New Jersey, Illinois, and New York.
Specifically, these retail supply subsidiaries are AP Gas & Electric (PA), LLC; AP Gas & Electric (TX), LLC; AP Gas & Electric (MD), LLC; AP Gas & Electric (NJ), LLC; AP Gas & Electric (IL), LLC; AP Gas & Electric (OH), LLC; and AP Gas & Electric (NY), LLC.
Pursuant to the terms of the subscription agreement, APG&E Holdings will cause AP Holdings to issue Common Units representing 25 percent of AP Holdings' fully-diluted outstanding units of limited liability company interest in AP Holdings, which will then be purchased by EDFT. Following consummation of the transaction, EDFT will own a 25 percent interest in AP Holdings and, indirectly, in the AP Holdings subsidiaries.
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April 22, 2013
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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