Upper Peninsula plans new financing for buyout by Balfour Beatty

By Sara Rosenberg

New York, Jan. 21 - Upper Peninsula Power Co. plans on getting new financing to help fund its roughly $298.8 million purchase by Balfour Beatty Infrastructure Partners LP from Integrys Energy Group Inc., according to a news release.

The Bank of Nova Scotia and RBC Capital Markets are leading the financing.

Closing is subject to state and federal regulatory approvals, as well as certain other customary conditions and approvals.

Upper Peninsula is a regulated electric utility business.

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