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Duke Energy sells 11.05% of Duke Energy Indiana for 1.025 billion

Christian Fernsby |
Duke Energy received cash proceeds of $1.025 billion in exchange for an 11.05% minority interest sale of Duke Energy Indiana (DEI), a subsidiary of Duke Energy, to an affiliate of GIC Private Limited, Singapore's sovereign wealth fund.

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GIC will acquire a 19.9% indirect minority interest in Duke Energy Indiana for a total purchase price of $2.05 billion in two separate phases.

Proceeds from this transaction will help fund the company's $59 billion capex plan and satisfy all equity capital raising needs through 2025. Duke Energy has the discretion to determine the timing of the second closing, but it will occur no later than January 2023.

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