Sempra Energy Unit Completes Sale Of EnergySouth To Spire
Zacks Investment Research | Sep 12, 2016 09:19PM ET
Sempra Energy’s (NYSE:SRE) unit, Sempra U.S. Gas & Power, closed the sale of EnergySouth, Inc., the parent company of Mobile Gas Service Corp. and Willmut Gas & Oil Company, to Spire Inc. (NYSE:SR) .
Details of the Transaction
The divestment was announced by the company earlier this year. Its total consideration includes cash proceeds of $320 million and Spire’s assumption of EnergySouth’s existing debt of $67 million.
The transaction covers the sale of Mobile Gas and Willmut Gas only. Sempra U.S. Gas & Power will continue to possess Bay Gas Storage Co., Mississippi Hub, LLC, Liberty Gas Storage and Southern Gas Transmission, all of which were part of EnergySouth. Note that EnergySouth was acquired by Sempra U.S. Gas & Power in 2008.
SEMPRA ENERGY Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.