---
schema_version: "secwatch.filing_event.v1"
accession: "0001031296-24-000018"
form_type: "8-K"
ticker: "FE"
cik: "0001031296"
company_name: "FIRSTENERGY CORP"
filed_at: "2024-03-25T23:59:59+00:00"
generated_at: "2026-06-04T08:19:27.770053+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FirstEnergy closes $3.5B sale of additional 30% stake in FET to Brookfield

## Summary
- Received $2.3B cash at closing; $1.2B in notes due by end of 2024.
- Brookfield's total stake in FET rises to 49.9%; FirstEnergy retains 50.1%.
- Proceeds to strengthen balance sheet and support $26B Energize365 grid plan.
- Total equity financings since 2021: ~$7B at $87/share equivalent (36x P/E).
- New LLC agreement gives Brookfield board seats and expanded veto rights.

## SEC filing metadata
- accession: 0001031296-24-000018
- form_type: 8-K
- ticker: FE
- cik: 0001031296
- company_name: FIRSTENERGY CORP
- filed_at: 2024-03-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031296/000103129624000018/0001031296-24-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031296/000103129624000018/fe-20240325.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001031296-24-000018
- JSON: https://secwatch.observer/filing/0001031296-24-000018.json
- Plain text: https://secwatch.observer/filing/0001031296-24-000018.txt

## Key facts
- Material Agreements
  FIRSTENERGY CORP entered into Fourth Amended and Restated Limited Liability Company Agreement of FET with North American Transmission Company II L.P., Brookfield Super-Core Infrastructure Partners L.P., Brookfield Super-Core Infrastructure Partners (NUS) L.P., Brookfield Super-Core Infrastructure Partners (ER) SCSp (effective 2024-03-25).
  - Action: entry
  - Counterparty: North American Transmission Company II L.P., Brookfield Super-Core Infrastructure Partners L.P., Brookfield Super-Core Infrastructure Partners (NUS) L.P., Brookfield Super-Core Infrastructure Partners (ER) SCSp
  - Effective: 2024-03-25
  source text: On March 25, 2024, pursuant to the terms of the Purchase Agreement and in connection with the Closing, FirstEnergy and FET entered into a Fourth Amended and Restated Limited Liability Company Agreement of FET (the “Fourth LLC Agreement”) with Investor which amends and restates in its entirety the Third Amended and Restated Limited Liability Company Agreement dated as of May 31, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031296/000103129624000018/0001031296-24-000018-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.