Investment firms KKR & Co., Goldman Sachs Capital Partners, and TPG Capital spearheaded the $48-billion buyout of Energy Future Holdings Corp., the biggest power plant owner in Texas.
Now, they are striving to get barely 3% of their initial investment back since the company filed for bankruptcy.
Talks to negotiate with their senior creditors, which include Leon Black’s Apollo Global Management LLC and Centerbridge Capital Partners LLC, have stalled when their ability to view nonpublic information about the company was compromised.
An agreement that failed last week would have earned the company’s owners a mere $270 million.
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