Entergy Sells Electric Transmission Biz To ITC For $1.8B

Law360, New York (December 5, 2011, 5:43 PM EST) -- New Orleans-based Entergy Corp. has reached a $1.78 billion agreement to spin off and merge its electric transmission business with ITC Holdings, expanding the Michigan company into one of the largest electricity providers in the U.S., the companies announced Monday.

“By combining these businesses, we will significantly enhance the scale of our operations and financial resources as we continue to invest in electric transmission infrastructure for the benefit of customers, resulting in improved reliability, reduced system congestion and greater access to competitive energy markets,” said Joseph...
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