July 24, 2020
NRG Energy Inc. (NYSE: NRG) has announced that it has entered into a definitive agreement with Centrica PLC under which NRG will acquire Direct Energy, a North American subsidiary of Centrica PLC, for US$3.625 billion in an all-cash transaction. The transaction builds on NRG’s status as a growing, customer-driven integrated energy provider, adding more than three million retail customers across 50 states and Canada.
Latham & Watkins LLP represents NRG in the transaction with a corporate deal team led by New York partner Thomas Christopher, Chicago partner Jonathan Solomon, and London partner Edward Barnett, with associates Daniel Breslin, Hector Sants, and Daniel Williams. Washington, D.C. partner Jason Cruise advised on antitrust matters.