WDSU TV New Orleans reports on Administrative Law Judge Valerie Seal Meiner’s ruling that the proposed Cleco sale is not in the public’s best interest.
To view the full story click on the link listed below.
Background about proposed Cleco/Macquarie sale: Cleco Power, the oldest of Louisiana’s major electric utility companies, is the target of a private equity takeover bid by a group of foreign own investment funds. The offer is a bad deal for Louisiana, as it leverages an enormous amount of debt for the takeover, allows executives and shareholders to walk away with millions, and leaves customers to pay down the debt. For more information about our opposition to the Cleco/Macquarie sale click here.