|
|
|
|
Vistra Energy (TXU Parent) Completes Acquisition Of Crius Energy Trust
The following story is brought free of charge to readers by EC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com
Vistra Energy and Crius Energy Trust ("Crius Energy") today announced the successful completion of the previously announced acquisition by Vistra of the business of Crius Energy.
See details on the transaction, including purchase price and strategic rationale, in our prior story here
"We expect this transaction to be immediately accretive to Vistra on both an EBITDA per share and a free cash flow per share basis. The acquisition also accelerates our retail growth plans in the Midwest and Northeast and provides a platform for future growth in key markets where we have complementary generation," said Vistra's President and Chief Executive Officer Curt Morgan
Vistra's retail brands now serve approximately 3.7 million customers and 80 TWh of retail load annually across 19 states and the District of Columbia.
The closing of the transaction follows the approval of the transaction by Crius Energy unitholders at the special meeting of unitholders held on March 28, 2019, and the receipt of all required regulatory approvals, including approval from the Federal Energy Regulatory Commission on July 8, 2019.
As a result of the closing today, Crius Energy unitholders are entitled to receive C$8.80 per trust unit upon the redemption of such units. In addition, Crius Energy unitholders that were holders of record on March 26, 2019 will receive C$0.209 per unit for the distribution previously declared by Crius Energy on Jan. 16, 2019. The combination of these amounts results in total cash payable to Crius Energy unitholders of C$9.009 per unit. Crius Energy expects that the distribution of C$0.209 per unit will be payable today, with the transaction consideration of C$8.80 payable within three business days of today's date. The units of Crius Energy are expected to be delisted from the Toronto Stock Exchange as of the close of markets on July 17, 2019, and Crius Energy is expected to be wound-up following the redemption of the trust units on July 18, 2019.
ADVERTISEMENT Copyright 2010-16 Energy Choice Matters. If you wish to share this story, please
email or post the website link; unauthorized copying, retransmission, or republication
prohibited.
July 15, 2019
Email This Story
Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Energy Contracts Counsel -- Retail Supplier
• NEW! -- Senior Natural Gas Energy Trader -- Retail Supplier
• NEW! -- Operations Manager -- Retail Supplier
• Quality Assurance and Customer Service Manager
-- Retail Supplier
|
|
|