Kirkland & Ellis Reps Buyers in $4.7B Cleco Agreement
October 23, 2014
Kirkland & Ellis has announced it represented an investor group—featuring the infrastructure PE arm of the Macquarie Funds Group—in its agreement to acquire Cleco (NYSE: CNL), a holding company and owner of regulated utility company Cleco Power. Expected to close in 2H 2015, the deal values Cleco at roughly $4.7 billion with the inclusion of $1.3 billion in assumed debt. The investor group will acquire all outstanding shares of the company for $55.37 each.