Lord of the Links

My sojourn into the Spider's Web

Wednesday, November 23, 2005

The Deal That Even Awed Them in Houston

A deal to buy Texas Genco for $5.8bn by NRG Energy of NJ has all the analysts agape because Texas Genco was bought by a cartel of 4 private equity investors last year for about $900mn. This could very well go down in history as the sharpest profit ever made in a private equity deal.

The deal is a result of the deregulation of the energy markets in Texas which fixes energy costs (even those from coal) to the cost of energy from natural gas sources. A lot of NGOs are perturbed because this is greatly shooting up energy prices.
|| crawled by kpowerinfinity, 2:40 AM

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