The latest update is out from FirstEnergy (FE).
FirstEnergy Corp. completed a significant transaction by selling an additional 30% stake in FirstEnergy Transmission, LLC to an investment entity controlled by Brookfield Super-Core Infrastructure Partners, raising their ownership to 49.9%. The deal, valued at $3.5 billion, included $1.2 billion in promissory notes and $2.3 billion in cash, with Brookfield Corporation guaranteeing the notes. This strategic move not only alters ownership proportions but also grants the investor enhanced rights and influence over the company’s future decisions, including board appointments and major corporate actions, as outlined in a newly amended company agreement.
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