NextEra Energy completes $1.5B sale of FiberNet to Crown Castle
January 19, 2017
Internet Service Providers | Miami, FL | Corporate Acquisition
NextEra Energy (NYSE: NEE) had previously announced the sale of FiberNet and its subsidiaries to Crown Castle International (NYSE: CCI) last November. NextEra will use a portion of the proceeds from the $1.5 billion all-cash deal to retire approximately $375 million of FiberNet's long-term debt and another part to fund the acquisition of Oncor Electric Delivery, a transmission and distribution utility based in Texas. The company expects the pair of transactions behind that deal, which has a combined enterprise value of $18.7 billion, to close later this year.