InvestorsHub Logo
Followers 240
Posts 12054
Boards Moderated 0
Alias Born 04/05/2009

Re: None

Tuesday, 11/11/2014 2:28:17 AM

Tuesday, November 11, 2014 2:28:17 AM

Post# of 79
Hunt utility trust announces IPO (11/10/14)

By James Osborne

The real estate trust that owns the power assets of the family of Dallas billionaire Ray L. Hunt on Monday announced plans to hold an initial public offering.

The move by InfraREIT Inc. comes as the Hunts position themselves to bid on Texas’ largest power line company, Oncor. Oncor is expected to go up for auction next year after the bankruptcy filing last April of current owner Energy Future Holdings.

Ahead of that filing Hunt had partnered with a key group of EFH creditors to take control of Oncor once bankruptcy was completed. But that restructuring plan was scuttled when Florida-based NextEra Energy stepped in with an offer that has been valued at $18 billion. The Hunts’ offer has not been made public.

Last week U.S. Bankruptcy Judge Christopher Sontchi delayed the Oncor sale when he ordered EFH to work with creditors on establishing an auction process not likely to start before the beginning of 2015.

InfraREIT is run by CEO David Campbell, the former EFH executive who was hired by Hunt in July. The company said it had yet to determine the number and price of shares or the timing of the stock offering.

http://www.dallasnews.com/business/energy/20141110-hunt-utility-trust-announces-ipo.ece

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent VST News