Reliant Energy Receives SEC Ruling on Spin-OffJuly 09, 2002 by Jeff Shepard
Reliant Energy Inc. (Houston, TX) received authorization from the Securities and Exchange Commission (SEC) to adopt a new holding company structure under the name CenterPoint Energy, allow it to complete the spin-off of Reliant Resources Inc., and separate Reliant Energy into two companies.
Reliant Energy Chairman, President and CEO Steve Letbetter stated, "We are very pleased by the SEC action. The separation into two companies is the right strategic step for both Reliant Resources and the new CenterPoint Energy. The companies have different markets, different strategies and different aspirations. By moving forward as independent companies, each will be able to focus its full energies on what it does best."