3 Firms Shape NRG's $3.6B Direct Energy Buy

Law360 (July 24, 2020, 4:34 PM EDT) -- NRG will buy U.K.-based Centrica's North American unit Direct Energy for more than $3.6 billion in a deal shaped by at least three law firms, the companies said Friday.

Princeton, New Jersey-based NRG Energy Inc. and Centrica PLC said in separate statements that the deal for Direct Energy aligned with their respective strategic goals.

NRG expects the deal to expand its retail business by adding more than 3 million customers across 50 U.S. states and six Canadian provinces, while Centrica said the transaction allows it to reduce its net debt and focus on its home markets in the U.K. and Ireland....

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