(Bloomberg) BC Partners is nearing a deal to acquire Davies in a transaction valuing the London-based insurance service company at about 1.2 billion pounds…
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Canada Pension Is Said to Consider Shrinking Stake in Puget
Mar 09 2021, 12:41 PM
March 09 2021, 1:21 AM
March 09 2021, 12:41 PM
(Bloomberg) The Canada Pension Plan Investment Board is considering selling part of its stake in the utility Puget Energy Inc., according to people familiar with the matter.
(Bloomberg) The Canada Pension Plan Investment Board is considering selling part of its stake in the utility Puget Energy Inc., according to people familiar with the matter.
The investment group is working with an adviser to reduce its 31.6% stake by about 10 percentage points, said the people, who asked not to be identified because they werenât authorized to speak publicly. The sale is expected to fetch $700 million, valuing Puget Energy at up to $7 billion, including debt, the people said.
CPP Investments Eyes Lowering Stake in Low-Credit Rated Puget Energy
Posted on 03/09/2021
The Canada Pension Plan Investment Board (CPP Investments) is contemplating lowering its ownership stake in utility Puget Energy Inc. CPP Investments hired an adviser to lower its 31.6% stake by around 10%. CPP Investments would like to get around US$ 700 million for the stake, valuing Puget Energy with an enterprise value of up to US$ 7 billion. Puget Energy’s main operating unit is Puget Sound Energy. Puget Sound Energy is the largest electric and gas utility based in Washington. In January 2021, Puget Sound Energy announced plans to reduce its carbon emissions to net zero by 2045.
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