Dynegy to buy Ameren subsidiaries in Illinois

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Dynegy Inc. (NYSE: DYN) and Ameren (NYSE: AEE) signed a definitive agreement in which Dynegy’s subsidiary Illinois Power Holdings LLC (IPH) will acquire Ameren’s subsidiary, Ameren Energy Resources, and its subsidiaries Ameren Energy Generating Co. (Genco), AmerenEnergy Resources Generating Co. (AERG) and Ameren Energy Marketing Co (AEM). The companies expect to close the deal in 4Q 2013.

Dynegy will own 8,000 MW of generating capacity in Illinois and nearly 14,000 MW nationwide. The Duck Creek, Coffeen, E.D. Edwards, Newton and Joppa power plants are included in the transaction.

Prior to closing the deal, Ameren or a subsidiary will purchase Genco’s Elgin, Grand Tower and Gibson City natural gas-fired power plants for a guaranteed minimum price of $133 million.

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