May 6, 2025

Bank of America unit cleared to acquire larger stake in GenOn

BofA’s acquisition makes it a top GenOn owner, alongside distressed debt and private equity investor Strategic Value Partners and investment management firm MacKay Shields.

Ownership Boost: FERC authorized Bank of America Securities Inc. (BofA) to increase its stake in GenOn Holdings Inc. to approximately 16% of voting securities, up from less than 10%, according to a May 2 order. GenOn Holdings is the parent company of GenOn Energy Management and six project companies. Power Portfolio: GenOn Holdings owns GenOn Energy Management LLC, a power ...

Details:

Filing Date: May 2, 2025

Docket Numbers:

EC25-65

Short Summary:

FERC authorized Bank of America Securities Inc. (BofA) to increase its stake in GenOn Holdings Inc. to approximately 16% of voting securities, up from less than 10%, according to a May 2 order. GenOn Holdings is the parent company of GenOn Energy Management and six project companies.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Acquisition of Securities, Acquisitions & Dispositions, Natural Gas, Natural Gas-Fired Generators, Oil-Fired Generators, Power Marketing Services

Entities: Bank of America Corp., GenOn Holdings Inc.

Markets: California ISO (CAISO), PJM Interconnection (PJM)

Regions: Mid-Atlantic & Midwest, West

States: California, Maryland, Pennsylvania

Regulators: FERC

Courts:

Documents:

Acquisition & Disposition – Application – Order Approving