Cleco Sale Up For Final Approval On Wednesday
PINEVILLE, LA (AP) — Whether Cleco Corp. is sold or not will finally be decided Wednesday.
The Town-Talk reports the Louisiana Public Service Commission is expected to vote on whether to approve or reject the proposed sale at its meeting in Baton Rouge, capping a 16-month process.
Pineville-based Cleco agreed in October 2014 to a sale proposal for nearly $5 billion from an investment group led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corporation, together with John Hancock Financial. The deal was approved by Cleco shareholders and has received other regulatory clearance, leaving the final decision in the hands of the Public Service Commission.
If approved, Central Louisiana's only publicly traded company would be in private hands.
Cleco Power serves approximately 281,000 customers across Louisiana.