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NRG gets Texas Genco

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NRG power will pay $5.8 billion to purchase Texas Genco Holdings. The deal will nearly double NRG's asset base, giving it a chance to come into the Texas wholesale electricity market.

The deal could be the beginning of a fresh round of mergers among merchant intensity producers, who generate electricity for sale upon the wholesale market, rather than selling it directly to consumers

Private equity firms Texas Pacific assemblage Kohlberg Kravis Roberts, Blackstone cluster and Hellman & Friedman bought Texas Genco last summer for $37 billion, using $900 million of their have a title to cash and borrowing the rest



Copyright Instrument Society of America Nov 2005

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