Brookfield Invests In 19.7% Non-controlling Equity Interest In Duke Energy Florida

(RTTNews) - Duke Energy (DUK) has entered into a definitive agreement for Brookfield, through its Super-Core Infrastructure strategy, to hold a 19.7% indirect equity interest in Duke Energy Florida for an aggregate amount of $6 billion. The company said $2 billion of the proceeds from the transaction will fund Duke Energy's increased $87 billion, five-year capital plan and $4 billion will be used to displace holding company debt.

Brookfield will invest in Florida Progress, which owns all of Duke Energy Florida. Brookfield will acquire its indirect equity interest in Duke Energy Florida in phases. Duke Energy will retain an 80.3% interest in the business and will continue to operate Duke Energy Florida.