Cleco Enters Agreement to be Acquired by North American Investor Group Led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management CorporationCleco Enters Agreement • October 20th, 2014 • Cleco Corp • Electric services
PINEVILLE, La., October 20, 2014 - Cleco Corporation (NYSE: CNL), a public utility holding company and owner of regulated electric utility Cleco Power LLC, today announced that it has entered into a definitive agreement to be acquired by a group of North American long-term infrastructure investors led by Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment Management Corporation (bcIMC), together with John Hancock Financial and other infrastructure investors (collectively, “investor group”). The agreement values Cleco at approximately $4.7 billion, including approximately $1.3 billion of assumed debt.
