Cleco investors sweeten proposed $4.7 bln acquisition
An investor group formed to acquire Pineville, Louisiana-based utility Cleco Corp (NYSE: CNL) for US$4.7 billion has agreed to an enhanced commitment package for Cleco customers and local communities. British Columbia Investment Management Corp (bcIMC), Macquarie Infrastructure and Real Assets and the other investors have offered to increase customer rate credits to US$125 million over 15 years. This and other initiatives will result in total customer savings of about US$143 million over the same period. The acquisition deal, announced in October 2014, remains subject to the approval of state regulators.
6 January 2016•8 mins read
