NextEra to buy bankrupt Energy Future and its stake in Oncor

Fri Jul 29, 2016 6:16am EDT
 
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July 29 (Reuters) - Power producer NextEra Energy Inc said it had agreed to buy reorganized Energy Future Holdings Corp and its indirect stake in Oncor Electric Delivery Co in a deal with enterprise value of about $18.4 billion.

The agreement will be filed as part of the restructuring of Energy Future, currently before the Delaware bankruptcy court, and it is designed to allow the company to emerge from Chapter 11 bankruptcy, NextEra said on Friday.

Energy Future, the largest power company in Texas, filed for bankruptcy on April 29, 2014.

NextEra will buy Energy Future and its stake in Oncor through a newly formed subsidiary. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Kirti Pandey)