NRG Energy Inc. (NYSE: NRG) signed a definitive agreement to acquire Philadelphia-based retail electricity and natural gas provider Energy Plus Holdings LLC for $190 million in cash.
More than 90 percent of Energy Plus’ customers are in states such as New York, Connecticut, Pennsylvania, New Jersey, Maryland and Illinois. Energy Plus also sells electricity in Texas and natural gas in New York and New Jersey.
The transaction is subject to customary closing conditions and regulatory approvals, including from the U.S. Department of Justice and the Federal Energy Regulatory Commission as well as other regulatory notices. Closing is expected to occur in October.
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