Southern Co subsidiary terminates international leveraged leases, receives $672.5M

SOUTHERN CO

Subsidiary of Southern Company Holdings terminated leasehold interests in two international leveraged lease projects on Dec 13, 2021.
Received $672.5 million in cash proceeds from accelerated exercise of lessee purchase options.
Preliminary pre-tax gain of ~$93 million ($100 million after tax) from the transaction.
Company will exclude this gain when reporting 2021 adjusted earnings as non-recurring.

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