Stratrix
On the Record · Vistra

Vistra acquisitions, on the record

The businesses Vistra bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Energy Harbor Corp.
Word for word“We expect to use cash on hand and borrowings under the Receivables Facility and Repurchase Facility and other liquidity facilities to fund the approximately $3.1 billion cash necessary to close the Energy Harbor acquisition.” 10-K for 2023
agreed acquisition—approximately $3.1 billion cash necessary to close the Energy Harbor acquisition
Ambit Ambit Holdings, LLC
Word for word“Ambit Transaction the acquisition of Ambit by an indirect, wholly owned subsidiary of Vistra on November 1, 2019 (Ambit Acquisition Date)” 10-K for 2023
acquisitionNovember 1, 2019—
Crius Crius Energy Trust
Word for word“Crius Transaction the acquisition of equity interests of two wholly owned subsidiaries of Crius that indirectly owned the operating business of Crius by an indirect, wholly owned subsidiary of Vistra on July 15, 2019 (Crius Acquisition Date)” 10-K for 2023
acquisitionJuly 15, 2019—
Dynegy Inc.
Word for word“Dynegy Merger Date April 9, 2018, the date Vistra and Dynegy completed the transactions contemplated by the Agreement and Plan of Merger, dated as of October 29, 2019, by and between Vistra and Dynegy” 10-K for 2023
mergerApril 9, 2018—
Energy Harbor
Word for word“On March 1, 2024 (Merger Date), pursuant to a transaction agreement dated March 6, 2023 (Transaction Agreement), (i) Vistra Operations transferred certain of its subsidiary entities into Vistra Vision, (ii) Black Pen Inc., a wholly owned subsidiary of Vistra, merged with and into Energy Harbor, (iii) Energy Harbor became a wholly-owned subsidiary of Vistra Vision, and (iv) affiliates of Nuveen Asset Management, LLC (Nuveen) and Avenue Capital Management II, L.P. (Avenue) exchanged a portion of the Energy Harbor shares held by Nuveen and Avenue for a 15% equity interest of Vistra Vision (collectively, Energy Harbor Merger).” 10-K for 2024
mergerMarch 1, 2024—
Nuveen's and Avenue's combined 15% noncontrolling interest in Vistra Vision
Word for word“On September 18, 2024 (the UPA Transaction Date), Vistra Operations and Vistra Vision Holdings I LLC, an indirect subsidiary of Vistra Operations (Vistra Vision Holdings), entered into separate Unit Purchase Agreements (as amended, the UPAs) with each of Nuveen and Avenue, pursuant to which Vistra Vision Holdings agreed to purchase each of Nuveen's and Avenue's combined 15% noncontrolling interest in Vistra Vision for approximately $3.2 billion in cash (collectively, the Transaction).” 10-K for 2024
agreed acquisitionSeptember 18, 2024 (the UPA Transaction Date)approximately $3.2 billion in cash
Cogentrix Energy
Word for word“On December 31, 2025, Vistra executed definitive agreements to acquire Cogentrix Energy which consists of 10 modern natural gas generation facilities totaling approximately 5,500 MW of capacity (Cogentrix Transaction).” 10-K for 2025
agreed acquisitionDecember 31, 2025—
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Goodwill from acquisitions
2017-12-31$0—
2018-12-31$0—
2019-12-31$374 million—
2020-12-31$0—
2021-12-31$0—
2022-12-31$0—
2023-12-31$0—
2024-12-31$3.06 billion$224 million

Deal filings since 2016

Read from Vistra’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.