Vistra Energy will pay $50M more for Norwalk’s Crius Energy

Vistra Energy will pay $50 million more than originally planned to acquire Norwalk”™s Crius Energy, in response to an unsolicited acquisition proposal from a third-party bidder that was higher than the purchase price previously agreed upon by Vistra and Crius.

In the new deal, Irving, Texas-based Vistra will pay $378 million to buy Crius, which owns several brands that sell power in Texas including TriEagle Energy, Energy Rewards and Viridian Energy. Vistra will still assume Crius Energy’s debt of $108 million, which was part of the original agreement.

Crius Board of Directors Chairman Brian Burden said that the revised Vistra price is higher than the unnamed third party”™s offer and that the board unanimously approved the new agreement.