Dynegy To Acquire Energy Capital Partners' Interest In Atlas JV - Quick Facts

(RTTNews) - Dynegy Inc. (DYN) announced its intent to acquire Energy Capital Partners' 35% interest in the Atlas joint venture. Dynegy will acquire the stake by assuming ECP's share of the upfront equity funding at closing, then paying ECP the revised discounted floor price of $375 million post-closing for a total transaction value of $750 million. By eliminating the joint venture, Dynegy expects to: reduce the cost of capital; and increase potential synergies leading to increases in free cash flow.

Dynegy noted that its acquisition of ECP's interest in the JV does not impact ECP's previously disclosed commitment to purchase $150 million in Dynegy common stock for $10.94/share.