U.S. Vistra Energy to buy Canada's Crius Energy Trust for about $328 mln

Texas-based power company Vistra Energy Corp. intends to purchase Canadian energy retailer Crius Energy Trust for about $328 million.

The deal comes as Vistra seeks to extend its retail business. With the purchase, Vistra will serve 19 states and the District of Columbia in the electricity and natural gas product market for residential and small business customers.

Crius Energy's assets are anticipated to complement Vistra's generation fleet adding around 11.6 terawatt hours of load and existing municipal aggregation and large commercial and industrial portfolio in the Midwest and Northeast markets.

The transaction, which has already been approved by Crius Energy's board of directors, is expected to be wrapped up in the second quarter of 2019.