UPPCO To Be Sold

The utility provider that owns the Upper Peninsula Power Company has agreed to sell UPPCO. Integrys Energy Group will sell 100% ownership of UPPCO to Balfour Beatty Infrastructure Partners, a British investment firm, for nearly $300 million. State and federal regulators need to approve the sale. Both companies say in a joint statement that the sale should close once those approvals are granted. They also say Balfour Beatty approached Integrys nearly a year ago about buying UPPCO. Balfour Beatty officials say business will continue as usual for UPPCO customers, employees and stakeholders after the sale.