Citadel Boosts European Power Trading With Purchase of FlexPower

Citadel agreed to buy German power-trading company FlexPower as the hedge fund giant extends its global reach in the booming natural gas and power markets.

The deal, the value of which was undisclosed, is slated to close before the end of the year, Citadel said in a statement. CFP Energy, which currently finances FlexPower, will sell its entire stake as part of the agreement.