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NRG Energy To Buy Direct Energy From Centrica For $3.625 Bln In Cash

NRG Energy Inc. (NRG) said that it agreed to buy Direct Energy, North American energy supply, services and trading business of Centrica Plc.(CNA.L), for $3.625 billion in an all-cash transaction.

The transaction on closing is expected to generate about $740 million in annual run-rate Adjusted EBITDA. The acquisition is expected to create $300 million in annual run-rate synergies.

NRG Energy expects to complete the deal by year end 2020. The transaction is subject to customary closing conditions, consents and regulatory approvals, including approval by shareholders of Centrica and the Federal Energy Regulatory Commission or FERC.

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