Macquarie Infrastructure Company Enters into Agreement to Acquire Bayonne Energy Center
EW YORK–(BUSINESS WIRE)–Macquarie Infrastructure Company (NYSE:MIC) announced that it has entered into a definitive agreement to acquire Bayonne Energy Center (BEC) from an affiliate of ArcLight Capital Partners LLC for approximately $210 million in cash plus the assumption of approximately $510 million of debt maturing in 2021 (subject to customary working capital and other closing adjustments) resulting in a total enterprise value of $720 million. The transaction is also subject to customary regulatory approvals and is expected to be completed in the first half of 2015.
