ML20134G290

Notice Re Proposed Restructuring of Texas Utils Co to Facilitate Acquisition of Enserch Corp

ML20134G290
Person / Time
Site:	Comanche Peak
Issue date:	11/06/1996
From:	Beckner W NRC (Affiliation Not Assigned)
To:
Shared Package
ML20134G258	List: ML20134G255 ML20134G290
References
NUDOCS 9611130119
Download: ML20134G290 (2)

Text

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i 7590-01 i UNITED STATES NUCLEAR REGUI.ATORY C0094ISSION TEXAS UTILITIES ELECTRIC COMPANY DOCKET NOS. 50-445 AND 50-446 COMANCHE PEAK STEAM ELECTRIC STATION.-UNITS 1 AND E l

Notice is hereby given that the United States Nuclear Regulatory Commission (the Commission) is considering approval under 10 CFR 50.80 of an  ;

application concerning the proposed corporate restructuring of Texas Utilities Company (TUC), the parent holding company, for Texas Utilities Electric Company (TUEC), the licensee for Comanche Peak Steam Electric Station (CPSES),

Units I cnd 2. By letter dated September 20, 1996, TUEC informed the l Commission that TUC proposes to acquire ENSERCH Corporation (ENSERCH), which is a company engaged in natural gas and oil exploration and production, natural gas pipeline gathering, processing and marketing, and natural gas distribution and power generation. TUC's acquisition cf ENSERCH will be l accomplished through the following merger transactions: (1) the formation of a new Texas Corporation, TUC Holding Company, and two new subsidiaries of TUC Holding Company (i.e., TUC Merger Corporation and Enserch Merger l

l Corporation); (2) the merger of TUC Merger Corporation with and into TUC with l TUC being the surviving corporation; and (3) the merger of Enserch Merger Corporation with and into ENSERCH with ENSERCH being the surviving company.

Upon the consummation of these transactions, TUC and ENSERCH will both become wholly owned subsidiaries of TUC Holding Company', which will change its name l  ;

l to Texas Utilities Company. TUEC would continue to remain the sole owner and

operator of CPSES. Upon consummation of the restructuring, current 9611130119 961106 DR ADOCK050004j5 h

J stockholders of TUC would become stockholders of the new Texas Utilities Company and would hold approximately 94 percent of the issued and outstanding shares of common stock of the new Texas Utilities Company.

Pursuant to 10 CFR 50.80, the Commission may approve the transfer of control of a license after notice to interested persons. Such approval is contingent upon the Commission's determination that the holder of the license following the transfer is qualified to hold the license and that the transfer l is otherwise consistent with applicable provisions of law, regulations, and i orders of the Commission.

For further details with respect to this action, see the licensee's letter dated September 20, 1996, with the following attachments: TUEC's Request for Consent and the Joint Proxy Statement / Prospectus filed with the Securities and Exchange Commission. These documents are available for public inspection at the Commission's Public Document Room, The Gelmin Building, 2120 L Street, NW., Washington, DC, and at the local public document room located at the University of Texas at Arlington Library, Government Publications / Maps, 702 College, P. O. Box 19497, Arlington, TX 76019.

Dated at Rockville, Maryland, this 6th day of November 1996.

FOR THE NUCLEAR REGULATORY C0fMISSION I

Wid DW William D. Beckner, Director i Project Directorate IV-1 l Division of Reactor Projects III/IV  !

Office of Nuclear Reactor Regulation l l