03:07 PM EST, 12/31/2024 (MT Newswires) -- (Adds ongoing review of options for Pacific Current and stock trading resumption in third and fourth paragraphs.)

Hawaiian Electric Industries ( HE ) said Tuesday it has closed the sale of 90.1% of the common stock of American Savings Bank to independent investors for a total cash consideration of $405 million.

The deal values the bank at $450 million, Hawaiian Electric said.

Hawaiian Electric also said a comprehensive evaluation of alternatives for its Pacific Current unit is underway.

Shares of Hawaiian Electric were down 2.3% in recent trading following a brief trading halt on Tuesday.

Price: 9.52, Change: -0.23, Percent Change: -2.31