GIC completed the acquisition of a 19.9% stake in Duke Energy Indiana from Duke Energy for $2.05bn.

GIC, a private equity firm, completed the acquisition of a 19.9% stake in Duke Energy Indiana from Duke Energy, an energy company, for $2.05bn. “This agreement with GIC allows Duke Energy to not only partner with a highly respected global investor, it also strengthens our confidence as we increase our long-term adjusted EPS growth rate to 5% to 7%. With this agreement, Duke Energy is well positioned to effectively finance our robust investment plan in a clean energy future and continue delivering sustainable value to our investors," Lynn Good, Duke Energy Chairman, President, and CEO. On September 8, 2021, Duke Energy completed the first of a two-phase sale of Duke Energy Indiana to GIC receiving cash proceeds of $1.03bn in exchange for an 11.05% minority interest.