GREY:CRIUF - Post by User
Post by
retiredcfon Feb 20, 2019 11:12am
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Post# 29388253
G&M Market Movers
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.