U.S. NRG Energy plans to acquire Stream Energy for $300 million

Texas-based nuclear electric power generation company NRG Energy intends to buy the retail electricity and natural gas division of Stream Energy, wireless to energy company, for $300 million.

NRG Energy said that the transaction will enhance its multi-brand strategy, provide it with an opportunity to boost its national retail leadership position and potential for growth.

Additionally, the proposed acquisition of Stream Energy’s retail electricity and natural gas business will also increase NRG Energy's market share in Texas, Pennsylvania and other Eastern states.

Subject to approvals from the Federal Energy Regulatory Commission, Georgia Public Service Commission, and antitrust review under Hart-Scott-Rodino, completion of the deal is expected in the third quarter of 2019.