(MENAFN) Sempra Energy said it will buy power transition firm Oncor, 80 percent owned by Energy Future Holdings Corp, for U.S.D9.45b in cash, solving the Texas utility's long-standing bankruptcy case.
In addition, San Diego-based Sempra predicts to own about 60 percent of the known holding firm after the transaction that is valued atU.S.D18.8 b, including Oncor's debt, it said late on Sunday.
Moreover, Energy Future's board on Sunday favored Sempra's offer over Berkshire Hathaway U.S.D9b deal to purchase Oncor, sources told Reuters, after Sempra also offered assurances it could get its acquisition of Oncor confirmed by Public Utility Commission of Texas, as well as a U.S. bankruptcy judge.
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