Energy Choice
                            

Matters

Retail Suppliers To Undergo Change In Ownership

November 28, 2016

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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Agera Energy LLC, Aequitas Energy Inc., and energy.me midwest llc (Applicants) applied for FERC approval of a transaction under which Agera P&G Capital, LLC will acquire a 100% voting equity interest in the parent of the Applicants, Agera Holdings LLC, which directly and indirectly owns all Class A Common Units or Common Stock of each Applicant representing the controlling ownership interests in each of the Applicants

The transaction will result in a change in the upstream equity ownership of the Applicants, and as a result of the transaction, Applicants will become indirect subsidiaries of Agera P&G Capital, LLC, which has no ties to the electric industry.

One hundred percent of the voting interests in Agera P&G Capital, LLC are owned by one individual, Gatien Langué. Neither Agera P&G Capital, LLC, nor Mr. Langué: (i) owns or controls, or is affiliated with an entity that owns or controls, generation or transmission assets or facilities, or any input to electric power production, or (ii) has a franchised service area for the sale of electricity to captive customers. Neither Agera P&G Capital, LLC, nor Mr. Langué, owns or controls, or is affiliated with an entity that owns or controls intrastate natural gas transportation, intrastate natural gas storage or distribution facilities; sites for generation capacity development; or sources of coal supplies and the transportation of coal supplies such as barges and rail cars.

Agera Holdings’ equity interests are presently owned by two investors: Agera Supplemental LLC and Michael Joseph Nordlicht. AGH Supplemental LLC owns 4.99% of the equity interests in Agera Holdings, and Mr. Nordlicht owns the remaining 95.01% of the equity interests in Agera Holdings.

AGH Supplemental LLC is wholly-owned by one individual, Mark Feuer, who owns 100% of the membership interests in AGH Supplemental LLC.

Under the transaction, Agera P&G Capital, LLC is to acquire a promissory note issued by Agera Holdings to a third-party lender and convert the note into equity membership interests of 95.01% in Agera Holdings. Agera P&G Capital, LLC separately will also acquire the remaining 4.99% of the equity interests in Agera Holdings from AGH Supplemental LLC

The note was recently acquired by AGH Parent LLC (see background here), which did not exercise the option to convert the note into equity membership interests, and instead is selling the note to Agera P&G Capital

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