NextEra Energy reaches agreement to sell FiberNet to Crown Castle International Corp. for $1.5 billion
NextEra Energy Resources | November 01, 2016
NextEra Energy, Inc. (NYSE: NEE) today announced it has entered into a definitive agreement to sell FiberNet and its subsidiaries (together, "FiberNet") to Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") for $1.5 billion in cash. A portion of the sale proceeds are expected to be used to retire approximately $370 million principal amount of FiberNet long-term debt. The impact of the gain on the sale at the time of closing will be excluded from adjusted earnings.