DALLAS, July 11, 2016 /PRNewswire/ -- InfraREIT, Inc. (NYSE: HIFR) ("InfraREIT" or the "Company") today announced that its shareholder Hunt Consolidated, Inc. ("Hunt") had disclosed a transaction in which Hunt exchanged its shares of InfraREIT common stock for an equal number of partnership units in InfraREIT's operating partnership ("OP Units") held by a subsidiary of Marubeni Corporation ("Marubeni"). Neither the Company nor InfraREIT Partners, LP, a subsidiary of the Company, were party to this transaction.
The exchange between Hunt and Marubeni had no effect on Hunt's fully-diluted ownership of InfraREIT, and did not result in any change in the total number of InfraREIT's common shares or OP Units outstanding. Additionally, the transaction had no effect on Hunt's obligations under the lock-up agreement between Hunt and InfraREIT which was executed in connection with InfraREIT's 2015 initial public offering. Hunt has disclosed this transaction in a filing with the U.S. Securities and Exchange Commission today on Form 4 and an amended Schedule 13D. Hunt has reiterated its intention to hold a substantial portion of its equity in the Company for the foreseeable future.
About InfraREIT, Inc. InfraREIT is a real estate investment trust that owns rate-regulated electric transmission and distribution assets in the state of Texas. The Company is externally managed by Hunt Utility Services, LLC, an affiliate of Hunt Consolidated, Inc. (a diversified holding company based in Dallas, Texas and managed by the Ray L. Hunt family) and the Company's shares are traded on the New York Stock Exchange under the symbol "HIFR". Additional information on InfraREIT is available at http://www.InfraREITInc.com.
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