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US: Energy utility Cleco sold for $4.7B

 |  October 20, 2014

Energy utility Cleco and its subsidiary Cleco Power have agreed to be acquired by an infrastructure investor group for about $4.7 billion, say reports.

The Louisiana-based company and its power unit will reportedly remain as independent operations following the takeover. The buyer is an investor group headed by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corporation.

The acquisition remains subject to both regulatory and shareholder approvals. The companies said they expect to finalize the deal in the second half of next year.

Full content: Utility Drive

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