Vistra acquires remaining stake worth $3.25 bn in subsidiary Vistra Vision
Reuters | Source: Reuters | Posted 09/19/2024
Vistra Vision, set up last year after the parent company acquired Energy Harbour, is a subsidiary holding company that owns nuclear generation facilities with a capacity of nearly 6.4 gigawatts, the renewables and energy storage business and Vistra's retail business.
AI generated summary
U.S. utility company Vistra announced its plans to acquire the remaining 15% equity in its subsidiary Vistra Vision for nearly $3.25 billion in cash. Vistra Vision was established last year following Vistra's acquisition of Energy Harbour, and it holds nuclear generation facilities, renewables and energy storage assets, and the company's retail business, totaling a capacity of around 6.4 gigawatts.
Nuclear energy companies like Vistra have experienced strong performance this year, with Vistra's shares rising by almost 137%. The acquisition of the minority interest in Vistra Vision aims to streamline the company's structure, with Vistra planning to pay off the equity held by Nuveen Asset Management and Avenue Capital Management II in five installments over two years. Additionally, Vistra intends to execute significant share repurchases totaling at least $3.25 billion between 2024 and 2026.
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