Vistra to acquire 2.6 GW of natural gas assets from Lotus for $1.9B

Vistra Corp.

Seven natural gas facilities totaling 2,557 MW for $1.9B, or ~$743/kW; includes Fairless (1,320 MW), Manchester (510 MW), etc.
Acquisition expected to be accretive to Ongoing Operations AFCFbG in the first year after closing.
Funding via assumed term loan (~50% of consideration) and cash on hand; $76M termination fee if regulatory approvals blocked.
Closing targeted for late 2025 or early 2026 subject to FERC, HSR, and NY PSC approvals.
Vistra reaffirms capital plan: $300M annual dividends, at least $1B annual buybacks, net leverage <3x.

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