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Announced

Completed

NextEra Energy completed the acquisition of Gulf Power and Florida City Gas from Southern Company for $6.5bn.

Financials

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Transaction Value£4,823m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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natural gas

Single Bidder

Friendly

Integrated Oil and Gas

Gas Distribution

United States

Majority

Domestic

Acquisition

Private

Completed

Synopsis

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NextEra Energy, a clean energy company, completed the acquisition of Gulf Power and Florida City Gas, two natural gas distribution companies, from Southern Company, a gas and electric utility company, for $6.5bn. “We are excited to welcome our new colleagues from Gulf Power to the NextEra Energy family. The last few months have been among the most challenging periods in Gulf Power’s rich history as the team worked tirelessly to restore power to those impacted by Hurricane Michael. We couldn’t be more pleased by Gulf Power’s performance and commitment to getting the lights back on during what were extremely dangerous and difficult conditions. As we turn to the future, we look forward to extending to Gulf Power’s customers our best-in-class value proposition of low bills, clean energy, high reliability and outstanding customer service,” Jim Robo, NextEra Energy, Chairman and CEO

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