Duke Energy Progress, a deal on Duke Energy stock
Duke Energy has secured a deal to buy up to 7 billion euros worth of stock in its Duke Energy Capital Fund, the deal, the company has said.
“Duke Energy’s acquisition of Duke Energy will enable the company to continue to invest in its business while continuing to build its portfolio of assets,” the company said in a statement.
Duke will acquire 7 billion Euros ($8.3 billion) worth of Duke energy stock and cash from its holding company, Duke Energy, to strengthen its portfolio and accelerate growth.
The deal comes after a deal for Duke Energy was approved by the UK’s Financial Conduct Authority last month, the Financial Times reports.
Following the FCA approval, the Duke Energy shares were down around 3 per cent on Tuesday morning on news of the deal.
In the UK, the FCO said that the deal is subject to approval by the regulator and that the UK government will be notified when it is complete.
Last year, the government announced a £50 million fund that will help the Duke-owned Duke Energy meet its carbon emission targets and is expected to generate £30 million in revenue in the first year, according to the Financial Post.