Fayetteville's Public Works Commission is stopping communications with an investment firm that could offer to pay nearly $1 billion to run the city's utilities and keep the profits for the next 30 years.
The firm in question, Louisiana-based Bernhard Capital Partners, had made a $750 million offer to the city last summer.
In an interview with The Fayetteville Observer on April 29, Bernhard's Managing Director Jeff Yuknis guessed the deal would be worth close to $1 billion now.
"From PWC’s perspective, BCPM has not established the transparency and trust necessary for PWC to continue discussions or evaluation of this significant financial transaction that would potentially have had implications for decades to come," Wade Fowler, PWC board chair, said in an email statement Wednesday.