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FirstEnergy sells $2.4 billion minority transmission stake to Brookfield

May 2022

Client(s) FirstEnergy Corp.

Jones Day represented FirstEnergy Corp. in its $2.4 billion sale of a 19.9% equity stake in its subsidiary FirstEnergy Transmission, the holding company for FirstEnergy’s three regulated electric transmission businesses. The transaction represents a record electric utility valuation of 41x LTM P/E.

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