Energy Future Holdings announced that the United States Bankruptcy Court for the District of Delaware has confirmed the company's plan of reorganization.

The plan contemplates a tax-free spin of the company's competitive businesses, including Luminant and TXU Energy, to certain bondholders and creditors, and the sale of its holdings in Oncor to a consortium of investors including various Hunt Consolidated companies.

Following the court's confirmation, the company must also receive regulatory approvals, including Texas PUC approval for the Oncor sale, and satisfy various other closing conditions in order to emerge from chapter 11. The regulatory process is expected to extend into the spring of 2016, though final timing is subject to modification.

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Texas   Energy Future Holdings   TXU   TXU Energy   Oncor   M&A  

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