Nextera Energy Oncor Deal

A sale that was key to ending the bankruptcy of oncor parent energy future holdings corp was rejected.

Nextera energy oncor deal.

The members of the public utility commission of texas on thursday unanimously said they would not approve the deal as being in the public interest. Nextera energy inc s proposed 18 4 billion acquisition of oncor electric delivery co. Puc rejects nextera oncor deal. Nextera energy inc s proposed takeover of one of the largest electricity transmissions businesses in the country oncor is in big trouble with key texas energy regulators.

September 14 2020. Efh claimed more than 45 billion. By jim malewitz july 29 2016 8 am. Oncor s parent sent the letter last thursday a day before warren buffett s berkshire hathaway energy announced a deal to buy oncor in a transaction reportedly worth more than 17 5 billion.

Florida based nextera energy has unveiled an 18 4 billion deal to buy oncor texas largest electric transmission company. Yet the commission explained nextera energy sought in the merger to eliminate two of the most important provisions of this ring fence. Wants to buy the biggest utility in texas for 18 7 billion and it is hoping to avoid the state opposition that sunk its plan to buy the largest utility in. And 2 the ability of texas transmission investment shareholders to.

Nextera had informed texas regulators that the deal to purchase oncor was predicated on linking the credit profiles of the two companies and without that the transaction would not go through. 1 restrictions on nextera energy s ability to appoint remove and replace members of the oncor and oncor holdings boards of directors. Puc s demands seen as deal killer in nextera s bid to buy oncor all three commissioners said they had multiple concerns about the deal.