An auction for Oncor, the regulated distribution unit of bankrupt Texas power company Energy Future Holdings, could come in the first quarter of next year, as interest in the prized asset mounts, according to two sources familiar with the matter. Energy Future, which filed one of the 10 largest Chapter 11 bankruptcies in April, is targeting an auction in the first quarter of 2015, with Bank of America Merrill Lynch retained to seek buyers, the people said in recent days.NextEra Energy Inc, which last month dropped a bid for Oncor, and Hunt Consolidated, which recently hired a former Energy Future executive to lead its investment arm, are expected to continue to be in the fray. Hunt is considering structuring Oncor as a real estate investment trust, or REIT, to go along with its Sharyland Utilities unit, which is among the only REIT-structured entities in the energy sector, sources said.Houston-based Centerpoint Energy and Spanish Iberdola SA have also shown interest, one of the people said.Energy Future, the former TXU Corp, was created in 2007 in the largest-ever leveraged buyout, led by KKR & Co and TPG Capital Management. Those investors figure to recover almost nothing in the company's restructuring.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 0.3% or $-0.05/share to $16.74. In the past year, the shares have traded as low as $13.60 and as high as $18.03. On average, 69285904 shares of BAC exchange hands on a given day and today's volume is recorded at 87303392.
CenterPoint Energy, Inc. is a domestic energy delivery company. Shares of CNP traded higher by 0.08% or $0.02/share to $24.27. In the past year, the shares have traded as low as $22.46 and as high as $25.75. On average, 3351780 shares of CNP exchange hands on a given day and today's volume is recorded at 2884552.
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