U.S. power company Energy Future Holdings (EFH), once known as TXU Corp, has hired legal and financial advisors to lay the groundwork for a potential restructuring, according to a source familiar with the matter.According to the source, Energy Future Holdings has hired law firm Kirkland & Ellis and financial advisor Blackstone Group LP to advise the company on ways to deal with its heavy debt load.TXU was taken over in 2007 by private equity for around $45 billion, including debt, in the largest ever leveraged buyout. The deal was led by takeover firms KKR & Co and TPG Capital Management.The source spoke on the condition of anonymity because the matter is confidential.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 1.26% or $-0.23/share to $17.99. In the past year, the shares have traded as low as $11.13 and as high as $19.25. On average, 4556340 shares of BX exchange hands on a given day and today's volume is recorded at 7452827.
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