March 29 (Reuters) - Louisiana electricity supplier Cleco
Corp CNL.N said on Monday that it has got approval from the
state's public service commission to sell itself to an investor
group led by Macquarie Infrastructure and Real Assets.
The deal, announced on Oct. 20, 2014, valued Cleco at $4.7
billion, or $55.37 per share. (http://reut.rs/22Jqjxh)
Cleco shares closed at $48.81 on Monday.
With the final approval, the transaction is
expected to close in April, the company said in a release.
Macquarie Infrastructure and Real Assets is part of
Macquarie Group Ltd MQG.AX .
The investor group includes British Columbia Investment
Management Corp and John Hancock Financial, a division of
Canadian insurance company and financial services provider
Manulife Financial Corp MFC.TO .
The company said it will remain headquartered in Pineville
and retain local management and existing headcount.