Duke Energy To Sell 20% in Florida Arm for $6 Billion

U.S. electric utility giant Duke Energy has agreed to sell an indirect 19.7% stake in its Florida business to infrastructure investor Brookfield for $6 billion in cash, part of which will fund Duke’s increased capital spending plan for the next five years. Under the terms of the definitive agreement, 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, with Florida Progress receiving $2.8 billion at the first closing expected…