The bankruptcy exit still requires approval of the Railroad Commission of Texas, with such approval expected in September. In the short-term, the spun-off holding company will be known as "Reorganized TCEH"
Under the spin-off, senior lenders will own Luminant and TXU. Such lenders, according to the Wall Street Journal, include affiliates of Apollo Global Management, Brookfield Asset Management, and Oaktree Capital Management.
