The Public Utility Commission of Texas today approved Sempra Energy’s proposed acquisition of Oncor, the regulated utility 80% owned by Energy Future Holdings, Sempra announced.
While the deal remains subject to customary closing conditions, Sempra said it expects the transaction to be completed “shortly.”
The PUCT’s approval of the transaction was expected, and represents the final significant step for Energy Future to emerge from Chapter 11 after close to four years in bankruptcy court.
As reported, the bankruptcy court in Wilmington, Del., confirmed Energy Future’s reorganization plan, which is premised on Sempra’s acquisition of Oncor, on Feb. 26.
The company filed for Chapter 11 on April 29, 2014. — Alan Zimmerman
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