Regulators given new incentives to approve $4.7 bln Cleco buy
An investor group formed to buy Pineville, Louisiana-based utility Cleco Corp (NYSE: CNL) has joined with the company to offer enhanced deal commitments. British Columbia Investment Management Corp (bcIMC), Macquarie Infrastructure and Real Assets and the other investors have added to some 77 commitments, including a new proposal that would see Louisiana pension plans invest in up to 10 percent of Cleco equity. The effort is intended to convince regulators to approve the previously announced US$4.7 billion acquisition. Regulators turned down the deal in February.
16 March 2016•7 mins read
