One-Page Deal Sheet
Hess Exits Downstream; Zips Up Sale Of Energy Marketing Biz
Centrica Plc Hess Corp
Announced Date
July 30,2013
Close Date
November 01,2013
Transaction Type
Corporate
Transaction Details: Subscribe to see
Closing Announcement - November 1, 2013
Hess Corporation has completed the previously announced sale of its Energy Marketing business to Direct Energy, a North American subsidiary of Centrica plc, for a total consideration of $1.2 billion.
Proceeds were higher than originally announced due to increased working capital at closing.
The Energy Marketing business supplies natural gas and electricity to 23,000 commercial, industrial and small business customers in the eastern half of the United States.
Initial Announcement - July 30, 2013Direct Energy Business LLC, a North American subsidiary…