Brief: HEI Announces Sale Of American Savings Bank, Creating Independent Investor-Owned Bank

Hawaiian Electric Industries

31/12/2024 18:52

Dec 31 (Reuters) - Hawaiian Electric Industries Inc
 HE.N :
    * HEI ANNOUNCES SALE OF AMERICAN SAVINGS BANK, CREATING
INDEPENDENT INVESTOR-OWNED BANK
    * HAWAIIAN ELECTRIC INDUSTRIES INC - TRANSACTION VALUES BANK
AT
$450 MILLION
    * HAWAIIAN ELECTRIC INDUSTRIES INC - HEI TO USE PROCEEDS TO
REDUCE
DEBT
    * HAWAIIAN ELECTRIC INDUSTRIES INC - SALE CREATES
INDEPENDENT
LOCAL BANK IN HONOLULU
    * HAWAIIAN ELECTRIC INDUSTRIES: INVESTORS PURCHASING 90.1%
OF ASB
COMMON STOCK FOR CASH CONSIDERATION OF $405 MILLION
    * HAWAIIAN ELECTRIC INDUSTRIES INC: REVIEW OF STRATEGIC
OPTIONS
FOR PACIFIC CURRENT REMAINS ONGOING

Source text:  ID:nBw3bW0xNa 
Further company coverage:  HE.N 

 ((Reuters.Briefs@thomsonreuters.com;))