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Macquarie-led group to buy Louisiana utility Cleco Corp
October 20, 2014 / 9:34 AM / 3 years ago

Macquarie-led group to buy Louisiana utility Cleco Corp

Oct 20 (Reuters) - An investor group led by Macquarie Infrastructure and Real Assets has agreed to buy Louisiana electricity supplier Cleco Corp in a deal valued at about $4.7 billion, including about $1.3 billion of assumed debt.

The offer price of $55.37 per share represents a premium of about 15 percent to Cleco’s close on Friday.

Cleco will continue to operate as an independent company led by local management following the close of the deal and will maintain its headquarters in Pineville, Louisiana. (Reporting by Ankush Sharma in Bangalore; Editing by Gopakumar Warrier)

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