FERC Seeks Addl Information On Dynegy-Duke Energy Deal - Quick Facts

(RTTNews) - Dynegy Inc. (DYN) announced Monday that the Federal Energy Regulatory Commission or FERC issued a letter requesting additional information to process the applications filed with FERC on September 11, 2014 for approval of Dynegy's acquisition of Duke Energy Midwest Generation assets and retail business and EquiPower Resources and Brayton Point Holdings assets.

The company said it plans to respond fully within the 30-day period however, due to this request for additional information, we do not expect the transactions to close by the end of the first quarter 2015.

Dynegy, Duke and Energy Capital Partners remain committed to closing the transactions as quickly as possible. The only regulatory approval remaining is from FERC.

In August, Power producer Dynegy Inc. said it signed two separate definitive agreements to acquire the ownership interests in certain Midwest generation assets from Duke Energy Corp. (DUK), as well as EquiPower Resources Corp and Brayton Point Holdings, LLC from Energy Capital Partners or ECP. The purchase price is $2.8 billion cash for Duke assets and $3.45 billion for ECP assets.

Dynegy would issue $200 million of its common stock to ECP as part of the transaction consideration at closing. Both transactions were expected to close by the end of the first quarter of 2015.