Northstar Group Services, Inc. entered into an agreement to acquire Entergy Nuclear Vermont Yankee, LLC from Entergy Corporation (NYSE:ETR) on November 8, 2016. The consideration will be paid in cash and a promissory note. At or before closing, a subsidiary of Entergy will either assume the obligations of Entergy Nuclear Vermont under the Existing Credit Facility or enter into a new credit facility (with the proceeds used to pay off the Existing Credit Facility). In either case, Entergy will guaranty the facility. At the closing, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont, and NorthStar will cause Entergy Nuclear Vermont to issue a promissory note to the Entergy entity selling the membership interests in Entergy Nuclear Vermont. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $108 million as of June 30, 2018. The transaction is expected to result in a loss based on the difference between Entergy’s net investment in Entergy Nuclear Vermont Yankee and the sale price plus any agreed adjustments. As of June 30, 2018, the adjusted net investment in Entergy Nuclear Vermont Yankee was $245 million. The primary variables in the ultimate loss are the values of the nuclear decommissioning trusts and the asset retirement obligations at closing, financial results from the plant until the closing, and any changes in Entergy’s investment in Entergy Nuclear Vermont Yankee before closing The transaction is subject to certain closing conditions, including approval by the Nuclear Regulatory Commission; approval by the State of Vermont Public Service Board, including approval of revised site restoration standards that will be proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million (subject to upward adjustment to the extent certain contemplated work is not completed prior to closing). As on October 11, 2018, U.S. Nuclear Regulatory Commission approved the transfer of Vermont Yankee's operating licenses to NorthStar. As on December 6, 2018, Vermont Public Utility Commission approved the sale. The amount of any contribution to the decommissioning trust fund that may be required to meet the minimum funding level is highly uncertain and will depend on, among other things, the level of future expenditures from the decommissioning trust fund for work performed prior to closing and the market performance of the investments in the decommissioning trust fund through closing. Entergy is not required to make any contribution to the decommissioning trust fund to cause this condition to be satisfied. Subject to such conditions, the transaction is expected to close by the end of 2018. The transaction is expected to result in a loss at closing. On an ongoing basis, the sale is expected to be mildly accretive to operational results once the transaction is completed, primarily due to the elimination of future decommissioning accretion expenses. As of March 2, 2018, Entergy Corporation (NYSE:ETR) and Northstar Group Services, Inc. signed a settlement agreement and Memorandum of Understanding with State of Vermont agencies and other interested parties on terms for approval of the sale. The parties anticipate requesting that the PUC issue its decision by July 31, 2018. Northstar Group Services, Inc. completed the acquisition of Entergy Nuclear Vermont Yankee, LLC from Entergy Corporation (NYSE:ETR) on January 11, 2019.