DALLAS, Aug. 22, 2017 /PRNewswire/ -- InfraREIT, Inc. (NYSE: HIFR) ("InfraREIT" or the "Company") announced today that the United States Department of Justice and the Federal Trade Commission have granted early termination of the Hart-Scott-Rodino Act waiting period for the proposed exchange transaction between InfraREIT's regulated subsidiary, Sharyland Distribution & Transmission Services, L.L.C. ("SDTS"), and Oncor Electric Delivery Company LLC ("Oncor") in which SDTS will exchange its retail distribution assets for a group of Oncor's transmission assets located in west and central Texas. Expiration or termination of the waiting period is one of the conditions required for completion of the transaction.
The exchange transaction, announced July 24, 2017, is expected to close in the fourth quarter of 2017, subject to a number of additional closing conditions, including the approval of the Public Utility Commission of Texas and Oncor's parent company obtaining consent of the U.S. Bankruptcy Court for the District of Delaware.
About InfraREIT, Inc.
InfraREIT is a real estate investment trust that is engaged in owning and leasing 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 www.InfraREITInc.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. These statements give the current expectations of the Company's management. Forward-looking statements contained in this press release include the Company's expectations regarding the consummation of the exchange transaction with Oncor. Forward-looking statements can be affected by assumptions used or known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed and actual results may differ materially and adversely from those reflected in the forward-looking statements. Factors that could cause actual results to differ materially from those indicated in the forward-looking statements include, among others, (a) the failure to obtain required approvals or other unsatisfied closing conditions and (b) other applicable uncertainties, factors and risks described in the Company's filings with the U.S. Securities and Exchange Commission.
Any forward-looking statement made by the Company in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
For additional information, contact:
Vice President, Investor Relations
InfraREIT, Inc., 214-855-6748
Senior Vice President, Corporate Affairs & International Relations