Genie Retail Energy Nears Close on Acquisition of Retail Supplier, Additional Details Disclosed

Town Square Energy expects its sale to Genie Retail Energy, Inc. to close by approximately September 30, 2016.

EnergyChoiceMatters.com was first to report in July (click here for story) that Genie Retail Energy had entered into an agreement to purchase Retail Energy Holdings, LLC, the parent of retail suppliers Town Square Energy, LLC and Town Square Energy East, LLC (f/k/a Discount Energy Group). After the sale, the Town Square Energy suppliers will become indirect subsidiaries of Genie Retail Energy, Inc.

In a regulatory filing, Town Square Energy provided additional information regarding the transaction.

Specifically, Town Square Energy said that there would be no change in Town Square Energy, LLC's name, and said that Town Square Energy will continue to operate with its existing management team and staff.

Retail Energy Holdings expects a seamless change-in-control with an anticipated closing date of approximately September 30, 2016.

Genie Retail Energy is the parent of IDT Energy, Inc. and Residents Energy, LLC