Summary
Vistra Corp. (VST) announced on July 8, 2019, that it has agreed to close its acquisition of two subsidiaries of Crius Energy Trust, which hold the Crius business. The transaction is anticipated to finalize around July 15, 2019, contingent upon the fulfillment or waiver of remaining closing conditions outlined in the February 7, 2019 purchase agreement. The company received the necessary regulatory approval from the Federal Energy Regulatory Commission (FERC) on July 8, 2019, which was the final regulatory hurdle. While Vistra Energy has reached an agreement to close, the report includes a cautionary note that there is no guarantee the outstanding conditions will be met or waived, and that unforeseen events could delay or prevent the completion of the acquisition. Investors should monitor future filings for confirmation of the closing and any subsequent integration updates.
Key Highlights
- 1Vistra Corp. (VST) is moving towards closing its previously announced acquisition of Crius Energy Trust's subsidiaries.
- 2The expected closing date for the acquisition is around July 15, 2019.
- 3The final regulatory condition, approval from the Federal Energy Regulatory Commission (FERC), was received on July 8, 2019.
- 4The acquisition is still subject to other outstanding conditions being satisfied or waived as per the purchase agreement.
- 5A cautionary statement is included, indicating that the closing is not guaranteed and could be delayed or fail due to unmet conditions or unforeseen events.