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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.