Breaking: Yet Another Utility Holding Company to Divest Retail Supplier

Integrys Energy Group this morning announced an agreement under which it would be acquired by Wisconsin Energy, with Integrys Energy Services being divested.

In announcing the transaction, Integrys announced that it is in the late stages of a competitive process to divest Integrys Energy Services, its non-regulated marketing subsidiary.

"As part of our ongoing assessment of Integrys' portfolio of businesses, we previously determined it was appropriate to divest Integrys Energy Services' retail electric and natural gas business and began that process earlier this year," said Charlie Schrock, chairman and CEO of Integrys. "The process is moving forward as we expected and we anticipate completing it soon."