FirstEnergy Received The Remaining $1.2B In Proceeds From The $3.5B Sale Of A 30% Ownership Interest In Its FirstEnergy Transmission, LLC
Portfolio Pulse from Benzinga Newsdesk
FirstEnergy Corp. (NYSE:FE) received the remaining $1.2 billion from the $3.5 billion sale of a 30% ownership interest in its FirstEnergy Transmission, LLC to Brookfield Super-Core Infrastructure Partners. The proceeds will be used to strengthen the balance sheet and support the Energize365 grid investment program.
July 17, 2024 | 7:10 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
FirstEnergy Corp. received the final $1.2 billion from the sale of a 30% stake in its subsidiary, FirstEnergy Transmission, LLC. The funds will be used to strengthen the balance sheet and support the Energize365 grid investment program.
The receipt of the final $1.2 billion will strengthen FirstEnergy's balance sheet and support its long-term growth initiatives. This positive financial development is likely to boost investor confidence and potentially lead to a short-term increase in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100