Vistra Energy Completes Acquisition of Crius Energy Trust
Crius Energy Trust, 15 July 2019
Vistra Energy (NYSE: VST) and Crius Energy Trust (“Crius Energy”) (TSX: KWH.UN) today announced the successful completion of the previously announced acquisition by Vistra of the business of Crius Energy. The closing of the transaction follows the overwhelming approval of the transaction by Crius Energy unitholders at the special meeting of unitholders held on March 28, 2019, and the receipt of all required regulatory approvals, including approval from the Federal Energy Regulatory Commission on July 8, 2019. As a result of the closing today, Crius Energy unitholders are entitled to receive C$8.80 per trust unit upon the redemption of such units. In addition, Crius Energy unitholders that were holders of record on March 26, 2019 will receive C$0.209 per unit for the distribution previously declared by Crius Energy on Jan. 16, 2019. The combination of these amounts results in total cash payable to Crius Energy unitholders of C$9.009 per unit. Crius Energy expects that the distribution of C$0.209 per unit will be payable today, with the transaction consideration of C$8.80 payable within three business days of today’s date. The units of Crius Energy are expected to be delisted from the Toronto Stock Exchange as of the close of markets on July 17, 2019, and Crius Energy is expected to be wound-up following the redemption of the trust units on July 18, 2019.
