---
schema_version: "secwatch.filing_event.v1"
accession: "0001089819-24-000021"
form_type: "8-K"
ticker: null
cik: "0001089819"
company_name: "Cleco Corporate Holdings LLC"
filed_at: "2024-06-04T23:59:59+00:00"
generated_at: "2026-06-01T06:27:20.362387+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cleco completes sale of unregulated utility business to Atlas Capital for $600M

## Summary
- Sale closed June 1, 2024; $500M paid at closing, $100M due in 24 months.
- Buyers: Big Pelican LLC and Pelican South Central LLC, affiliates of Atlas Capital Resources IV LP.
- Purchase price subject to closing adjustments based on net working capital.

## SEC filing metadata
- accession: 0001089819-24-000021
- form_type: 8-K
- cik: 0001089819
- company_name: Cleco Corporate Holdings LLC
- filed_at: 2024-06-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1089819/000108981924000021/0001089819-24-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1089819/000108981924000021/cnl-20240601.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001089819-24-000021
- JSON: https://secwatch.observer/filing/0001089819-24-000021.json
- Plain text: https://secwatch.observer/filing/0001089819-24-000021.txt

## Key facts
- M&A Transactions
  Cleco Corporate Holdings LLC completed a disposition involving Big Pelican LLC and Pelican South Central LLC, affiliates of Atlas Capital Resources IV LP for approximately $600.0 million, with $500.0 million due at closing and $100.0 million payable 24 months after closing (closed 2024-06-01).
  - Action: disposition
  - Counterparty: Big Pelican LLC and Pelican South Central LLC, affiliates of Atlas Capital Resources IV LP
  - Consideration: approximately $600.0 million, with $500.0 million due at closing and $100.0 million payable 24 months after closing
  - Closing: 2024-06-01
  source text: Cl eco Cajun LLC and South Central Generating LLC, subsidiaries of Cleco Corporate Holdings LLC, completed the previously announced sale of its unregulated electric utility business pursuant to the Purchase and Sale Agreement, dated November 22, 2023 (the “Purchase Agreement”), with Big Pelican LLC and Pelican South Central LLC, affiliates of Atlas Capital Resources IV LP, for approximately $600.0 million, with $500.0 million due at closing and $100.0 million payable 24 months after closing and subject to the closing purchase price adjustment as set forth in the Purchase Agreement, including adjustments based on net working capital.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1089819/000108981924000021/0001089819-24-000021-index.htm

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