NRG Energy has agreed to acquire Stream Energy’s retail electricity and natural gas business for $300 million plus working capital in an all-cash transaction.
The transaction is expected to close in the third quarter of 2019 and is subject to various customary closing conditions, approvals and consents, including the Federal Energy Regulatory Commission (FERC), Georgia Public Service Commission, and antitrust review under Hart-Scott-Rodino.
This acquisition, with an anticipated $65 million annual earnings before interest, taxes, depreciation, and amortization (EBITDA) contribution, is expected to increase NRG’s market share in Texas, Pennsylvania and a number of other markets in the Eastern U.S.
Stream Energy, one of the largest direct selling companies in the energy market and one of the nation’s fastest growing retailers, serves more than 600,000 Residential Customer Equivalents (RCEs) in nine states and the District of Columbia.
