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Oncor Enters into $1.3B Acquisition Agreement with InfraREIT

InfraREIT Inc. entered into a definitive agreement to be acquired by Oncor Electric Delivery Co. LLC for approximately $1.3 billion. The deal between the Dallas-headquartered companies also includes assumption of approximately $940 million of InfraREIT’s net debt. The transaction, if it moves forward, is expected to close by mid-2019.

InfraREIT owns and leases rate-regulated electric transmission assets in Texas, and is structured as a real estate investment trust. Hunt Utility Services LLC, an affiliate of Hunt Consolidated Inc. externally manages the REIT. Oncor, meanwhile, operates the largest power distribution and transmission system in Texas, and operates more than 134,000 miles of transmission and distribution lines.

The agreement with Oncor includes a “go-shop” provision that allows active solicitation and negotiation with other potential buyers. InfraREIT will solicit competing acquisition proposals through Nov. 17, 2018.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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