The transaction included various power transactions, products and trading positions, including physical forwards, financial transmission rights and derivatives.
This portfolio of transactions had an annual average total gross volume in excess of 125 million MWh over the past three years. The transactions did not directly affect the retail electric or natural gas marketing business operated by Integrys Energy Services.
According to Integrys Energy Group, this transaction will ultimately result in reduced collateral support requirements for the company of approximately $400m and completes the divestiture of Integrys Energy Service’s wholesale businesses.
JP Morgan Securities acted as exclusive financial adviser to Integrys Energy Group and Thorndike Landing acted as lead adviser to Integrys Energy Services for this transaction.
