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Ice Miller Represents GIC in Investment in Duke Energy Indiana Ice Miller Represents GIC in Investment in Duke Energy Indiana

Ice Miller Represents GIC in Investment in Duke Energy Indiana

Ice Miller LLP represented GIC in its acquisition of a minority interest in Duke Energy Indiana (“DEI”), serving as Indiana counsel for the transaction. This is the first of a two-part transaction between GIC and Duke Energy (NYSE:DUK) in which GIC acquired an 11.05 percent interest in DEI for $1.025 billion.

The second phase of the transaction, which is slated to occur no later than January 2023, will increase GIC’s interest in GIC to 19.9 percent for a total of $2.05 billion.

GIC is an affiliate of GIC Private Limited  and an experienced investor in U.S. infrastructure.

Proceeds from the transaction will fund Duke Energy’s increased $58 to $60 billion capital plan – a five-year plan that will accelerate its clean energy transition – and redeploy capital to support increased growth investments within its portfolio of regulated utilities.

Partner Steve Krohne led the Ice Miller team along with Partner Don Snemis, Senior Counsel Mike Cracraft and Associate Lauren Baldwin.

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About Ice Miller LLP
Ice Miller LLP is a full-service law firm dedicated to helping our clients stay ahead of a changing world. With over 340 legal professionals in seven offices, we advise clients on all aspects of complex legal issues across more than 20 practice areas. Our clients include emerging growth companies, FORTUNE 500 corporations, municipal entities and nonprofits. Learn more about Ice Miller and our client commitments.

This press release is intended for general information purposes only and does not and is not intended to constitute legal advice.

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