NiSource Inc.
NiSource Completes $2.16 Billion Minority Equity Interest Transaction with Blackstone Infrastructure Partners
Summary
On December 31, 2023, NiSource Inc. completed the sale of a 19.9% indirect equity interest in its subsidiary, Northern Indiana Public Service Company LLC (NIPSCO), to an affiliate of Blackstone Infrastructure Partners for $2.16 billion. This transaction includes an additional equity commitment of $250 million to fund ongoing capital requirements. The deal strengthens NIPSCO's financial foundation and supports its energy transition and decarbonization programs. NiSource retains an 80.1% controlling indirect equity interest in NIPSCO. The transaction was disclosed under Regulation FD on January 2, 2024.
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About NiSource Inc.
NiSource Inc. is a prominent energy holding company primarily focused on the distribution and transmission of natural gas and electricity. The company operates through regulated utility subsidiaries, offering essential energy services to millions of customers across seven U.S. states, including Indiana, Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, and Virginia. NiSource engages in two major business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution segment is responsible for the safe delivery of natural gas to residential, commercial, and industrial customers, playing a critical role in heating and powering homes and businesses. The Electric Operations segment involves the generation, transmission, and distribution of electricity, supporting vital infrastructure and fostering regional economic development. NiSource's strategic initiatives emphasize enhancing customer service, ensuring safety, and advancing environmental sustainability. As a key player in the utility industry, NiSource contributes significantly to the energy market, impacting sectors related to energy production, infrastructure, and environmental initiatives. The company's regulated business model aims to provide stable returns while pursuing growth opportunities in expanding its service offerings and improving energy efficiency.
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