Vistra Corp. has executed a definitive agreement to acquire Energy Harbor Corp. as the Irving-based firm seeks to become a premier zero-carbon generation and retail growth company.
According to a new release, Vistra (NYSE: VST) will operate Energy Harbor as part of a newly formed subsidiary holding company that will combine both firms’ nuclear and retail businesses, along with Vistra’s Vistra Zero renewables and storage projects. The holding company will be referred to as Vistra Vision, and Jim Burke, Vistra’s president and CEO, will lead the combined company, which be based in Irving. The company will continue to be traded on the New York Stock Exchange under the VST ticker.
Vistra will acquire Akron, Ohio-based Energy Harbor in a transaction comprised of $3 billion cash and a 15% equity interest in Vistra Vision.
Read the full story at Dallas Business Journal.