NextEra to Buy Blackstone-Backed GridLiance for About $660 Million
September 29 2020 - 5:34PM
Dow Jones News
By Josh Beckerman
NextEra Inc. agreed to buy GridLiance, an electric transmission
company backed by Blackstone Group LP, for about $660 million
including assumed debt.
Dallas-based GridLiance operates more than 700 miles of
transmission lines and related substations in Illinois, Kansas,
Kentucky, Missouri, Nevada and Oklahoma. It recently completed a
transaction with Winfield, Kansas, that marked its first
co-ownership of transmission assets with a municipal utility.
NextEra said it expects to close the deal in 2021, assuming
timely regulatory approvals.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 29, 2020 17:19 ET (21:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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