Duke Energy down on Commercial Renewables business sale plan

Brookfield Renewable Partners LP

12/06/2023 22:54

** Shares of electric and gas utility firm Duke Energy
 DUK.N  down marginally at $91 in extended trading
    ** Co says it will sell its unregulated utility scale
Commercial Renewables business to renewable power assets
operator Brookfield Renewable in a deal valued at about $2.8 bln
    ** DUK says financial advisers for the deal include Morgan
Stanley and Wells Fargo Securities
    ** Expects net proceeds of about $1.1 bln from the deal to
strengthen its balance sheet, avoid additional debt and ramp up
investments in its regulated businesses 
    ** Adds deal is expected to close by the end of 2023
    ** Up to Monday's close, stock had fallen 11.3% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))