Early Termination of Hart-Scott-Rodino Act Waiting Period Awarded for Oncor, Sharyland Deal
InfraREIT, Inc. today announced the United States Department of Justice and the Federal Trade Commission have granted early termination of the Hart-Scott-Rodino Act waiting period for the proposed exchange transaction between InfraREIT’s regulated subsidiary, Sharyland Distribution & Transmission Services, L.L.C. and Oncor Electric Delivery Company LLC, in which Sharyland Distribution & Transmission Services will exchange its retail distribution assets for a group of Oncor’s transmission assets located in west and central Texas. Expiration or termination of the waiting period is one of the conditions required for completion of the transaction.
The exchange transaction, announced July 24, 2017, is expected to close in the fourth quarter of 2017, subject to a number of additional closing conditions, including the approval of the Public Utility Commission of Texas and Oncor’s parent company obtaining consent of the U.S. Bankruptcy Court for the District of Delaware.
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