Bidders for Cleco ask Louisiana regulators to reconsider $4.7 bln deal
The Louisiana Public Service Commission has been petitioned for a rehearing of its decision concerning the sale of Cleco Corp (NYSE: CNL), parent of electric utility Cleco Power LLC. The decision, announced last month, turned down the proposed US$4.7 billion sale of Cleco to a consortium of investors led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corp (bcIMC). Cleco and members of the consortium said they want the opportunity to "fully present" the benefits of the deal to regulators and to address related criticisms.
8 March 2016•6 mins read
