Vistra Corp. (VST): M&A transaction — Vistra completes $1.9B acquisition of seven natural gas plants (2,600 MW) from Lotus Infrastructure Partners

Vistra Corp.

Acquired 100% membership interests in seven modern natural gas generation facilities totaling ~2,600 MW capacity.
Base purchase price of $1.9B, funded with cash and assumption of ~$800M existing term loan.
Assets located in PJM, New England, New York, and California competitive markets.
Seller was Lotus Infrastructure Partners; deal closed Oct. 22, 2025 after regulatory approvals.
CEO Jim Burke says acquisition is disciplined, opportunistic, enhances ability to deliver reliable power.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Vistra Corp. completed an acquisition involving Lotus Infrastructure Partners (via NEP Holdco 1, L.L.C., NatGas Fund Holdings, L.L.C., SEIF III NatGas Holdings, L.L.C., and Edgewater Parent, LLC) for $1.9 billion (closed 2025-10-22).

Action: acquisition
Counterparty: Lotus Infrastructure Partners (via NEP Holdco 1, L.L.C., NatGas Fund Holdings, L.L.C., SEIF III NatGas Holdings, L.L.C., and Edgewater Parent, LLC)
Consideration: $1.9 billion
Closing: 2025-10-22

Exact text from the filing

(the transactions contemplated by the Purchase Agreement, the “ Transactions ”). The Purchase Price (as defined in the Purchase Agreement) consisted of a base purchase price of $1.9 billion subject to certain customary adjustments, including the Acquired Companies’ working capital, cash, indebtedness, and certain other adjustments, as specified in the Purchase

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Vistra Corp. filing history →

Source: SEC EDGAR

accession 0001193125-25-253608

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