Negotiations on a partnership between Winfield and GridLiance aimed at assisting Winfield with financing some planned electric transmission projects have stalled. At issue… the right of first refusal. According to the local newspaper, Winfield and GridLiance… of Texas… last June entered into a nonbinding letter of agreement, over the possible purchase and development of some of the city’s electric system. But since then, negotiations have pretty much come to a halt. That’s because the city of Winfield wants to clarity something… The city wants to know for sure, whether it has right of first refusal if GridLiance wanted to sell its portion of the electrical system. In other words, the city wants to know if the transmission company would have to offer the city the chance to buy it back before offering to sell it to someone else. City leaders say that is an important aspect of the deal if it is to proceed.
Source: VNC News