A group of investors, led by Kohlberg, Kravis, Roberts & Co., have completed the acquisition of TXU Corp., and will focus on renewable energy and reduce the number of coal-fired units the Texas utility had previously planned.

The company has changed its name to Energy Future Holdings Corp. and the New York Stock Exchange and the Chicago Stock Exchange have delisted TXU. The completion of the approximately $45 billion acquisition makes Energy Future Holdings a privately held company. TXU shareholders will receive $69.25 for each of their shares of common stock.

KKR and its partners promised to pull eight of the 11 air permits TXU had applied to the state for new coal-fired units. Energy Future Holdings plans to spend $400 million on energy efficiency and conservation programs to reduce the amount of electricity Texans consume over the next 5 years, while making significant investments in renewable energy.

Energy Future Holdings also will create a Sustainable Energy Advisory Board made up of environmental, customer, Texas economic development and Electric Reliability of Texas stakeholders. Company board member William Reilly, former U.S. Environmental Protection Agency administrator and chairman emeritus of the World Wildlife Fund, will head Energy Future Holdings´ plan to make climate stewardship central to corporate policies.

The new, privately held utility will operate as three separate businesses, each with their own boards, management teams and headquarters. TXU Energy will serve as a competitive electricity retailer, while Luminant will be competitive power generation business. Oncor will serve as a regulated electric distribution and transmission operation.

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