Reliant Energy Completes Subsidiary Spin-Off
Reliant Energy Inc. (Houston, TX) completed the spin-off of its 83-percent-owned, competitive energy services subsidiary, Reliant Resources Inc. The company's regulated energy delivery businesses are owned by a new holding company, CenterPoint Energy Inc.
The spin-off was accomplished through a distribution of the Reliant Resources shares held by Reliant Energy. Reliant Energy shareholders received 0.788603 of a share of Reliant Resources common stock for every share of Reliant Energy common stock owned as of September 20, 2002.