Consortium Including Macquarie Group Nears $6 Billion Sale of Cleco Power
A consortium that includes Macquarie Group is close to selling Louisiana utility Cleco Power to Stonepeak Partners and Bernhard Capital Partners. The transaction is valued at nearly $6 billion, according to sources reported by @business. The deal involves the transfer of ownership of the electricity provider serving customers in Louisiana.
Ottre / Wikimedia (Public domain)A consortium including Macquarie Group is nearing an agreement to sell Cleco Power, a Louisiana-based utility, to Stonepeak Partners and Bernhard Capital Partners for nearly $6 billion, sources reported by @business said. The deal would transfer ownership of Cleco Power, which provides electricity services to residential and commercial customers in the state.
Indicated that the transaction is in advanced stages.
No official announcements have been made by the involved parties. Details such as exact terms and a completion timeline were not specified in the report.
Background Cleco Power Operates as a regulated utility in Louisiana.
The sale would change its ownership structure. The consortium's involvement includes Macquarie Group, though other members were not named in the report.
Key Facts
Story Timeline
2 events- Recent days
Consortium including Macquarie Group nears agreement to sell Cleco Power for nearly $6 billion.
1 source@business - Unspecified prior period
Cleco Power has operated as a regulated utility serving Louisiana customers.
1 source@business
Potential Impact
- 01
The sale could alter operational strategies at Cleco Power affecting Louisiana customers.
- 02
Stakeholders in the region may see changes in utility management and services.
- 03
Regulatory approvals might be required before the deal completes.
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