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Constellation Energy Group Inc. Acquires StarTex Power

May 31, 2011

Constellation Energy is one of the largest energy companies in the U.S., with nearly 10,000 employees, approximately 12,000 MW of generation capacity, and $14.3 billion in annual revenue (2010). The company’s power and natural gas businesses serve more than 30,000 customers throughout the U.S.

Transaction Value: $142.5 million

Bracewell served as buyer’s counsel representing Constellation Energy in its acquisition of StarTex Power, a Texas retail electric provider, with approximately 170,000 customers at the time of the closing. The purchase of StarTex Power gives Constellation Energy a foothold in the deregulated Texas electric retail market, the most active of all residential markets in the country, and is a key element of the company’s broader strategy to expand its residential retail business.

This transaction closed in May 2011.