April 28, 2016      6:12 PM
Energy Future Holdings says Oncor sale is dead, Reuters reports
EFH tells bankruptcy judge controversial $19 billion sale is off
Today an attorney from Energy Future Holdings (EFH) told a
judge that its plan to finance its exit from bankruptcy by selling the Oncor
distribution company, Texas largest electric utility, is history.
Instead, EFH hopes to offer an alternative in coming months
after an investment group led by billionaire Ray Hunt and his son Hunter
Hunt balked at conditions placed on the Oncor deal by the Texas
Public Utility Commission. The deal, which would have turned Oncor into
a real estate investment trust, had faced fierce and widespread opposition
because it would have funneled a non-existent tax liability from ratepayers to
investors and posed other risks.
The Reuters report
is here.
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