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Recognized as a trusted utility brand, FCG serves 120,000 customers. The transaction is currently under Hart-Scott-Rodino review and is expected to align with NextEra’s financial projections. This includes adjusted earnings growth and a steady increase in dividends through 2024.
The deal was advised by Goldman Sachs & Co (NYSE:GS). LLC and Norton Rose Fulbright. NextEra Energy’s CEO, John Ketchum, is leading the divestiture.
This move marks a significant shift in NextEra’s business strategy as it continues to streamline its operations and focus on its core competencies. The sale of FCG to Chesapeake Utilities will help to strengthen the company’s financial position and provide resources for future investment opportunities.
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