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"Crius Energy Trust through its subsidiaries is engaged in the sale of electricity and natural gas to residential and commercial customers under variable price and fixed-price contracts. The company, through its subsidiaries, also markets solar products to its existing customers as well as to new prospects. It provides retail electricity to its customers in the Connecticut, Delaware, District... see more

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Crius Energy Trust Tr Unit > G&M Market Movers

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Post by retiredcf on Feb 20, 2019 11:12am

G&M Market Movers

Crius Energy Trust (KWH-UN-T) jumped 18 per cent after the premarket announcement of a amendment to its existing agreement to be purchased by Vistra Energy Corp. (VST-N). Vistra has agreed to increase its acquisition price to $8.80 per trust unit, an increase of $1.23 from the previous deal.

"Vistra's decision to increase the purchase price for the Crius Energy portfolio came after a careful evaluation of the economics of the transaction," said Vistra president and chief executive officer Curt Morgan in a release. "At a purchase price of approximately 4 times EV/EBITDA, this transaction is still projected to be EBITDA and free cash flow accretive and to exceed Vistra's investment threshold of 500-600 basis points above our cost of capital, while not interfering with Vistra's previously announced capital allocation and deleveraging plans."

Shares of Irving, Tex.-based Vistra sat 0.4 per cent higher.

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