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Sempra bests Berkshire with $9.45-bn offer for Oncor

Sempra's deal for Energy Future Holdings, which owns 80% of Oncor, is valued at $18.8 bn with debt

Ryan Collins Scott Deveau & Matthew Monks | Bloomberg 

US utility owner Sempra Energy agreed to buy control of Texas power distributor Oncor Electric Delivery for $9.45-billion, topping a bid by Warren Buffett's Berkshire Hathaway just last month. Sempra's deal for Energy Future Holdings, which owns 80 per cent of Oncor, is valued at about $18.8 billion including debt, the San Diego-based company said in a statement Sunday. Sempra plans to fund the purchase through a combination of its own debt and equity, as well as third-party equity and $3 billion of borrowings by the reorganised company, it said. Sempra is the latest ...

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First Published: Tue, August 22 2017. 02:53 IST
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