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Sempra closes Oncor majority acquisition

A day after receiving approval from the Public Utility Commission of Texas, Sempra Energy on March 9 completed its acquisition of Energy Future Holdings Corp. and its 80% ownership interest in Oncor Electric Delivery Co. LLC.

"The completion of this acquisition — the biggest in our 20-year history — represents an important milestone in the execution of our growth strategy moving forward," said Sempra Energy Chairman, President and CEO Debra Reed.

Allen Nye, former senior vice president and general counsel, will become Oncor's CEO following the close of the deal. He succeeds Bob Shapard, who will now take over as Oncor's chairman. Oncor will retain its headquarters in Dallas.

The $9.45 billion transaction announced Aug. 21, 2017, was cleared by the U.S. Bankruptcy Court for the District of Delaware in February 2018.

Energy Future Holdings filed for Chapter 11 reorganization in April 2014 with more than $49 billion in liabilities.