Brief: Nisource Announces Agreement To Sell Minority Equity Interest In NIPSCO

NiSource

20/06/2023 11:48

June 20 (Reuters) - Blackstone Inc  BX.N :
    * NISOURCE ANNOUNCES AGREEMENT TO SELL MINORITY EQUITY
INTEREST IN
NIPSCO TO STRENGTHEN FINANCIAL FOUNDATION AND SUPPORT
SUSTAINABLE, LONG-TERM GROWTH
    * NISOURCE INC: BLACKSTONE INFRASTRUCTURE PARTNERS AFFILIATE
AGREES TO ACQUIRE 19.9% NON-CONTROLLING EQUITY INTEREST IN
NIPSCO FOR $2.150 BILLION
    * NISOURCE INC - REAFFIRMS COMMITMENT TO INDIANA AND TO ITS
CONSOLIDATED CREDIT, EARNINGS AND GROWTH COMMITMENTS THROUGH
2027
    * NISOURCE INC: BLACKSTONE INFRASTRUCTURE PARTNERS AFFILIATE
AGREES ADDITIONAL EQUITY COMMITMENT OF $250 MILLION TO FUND
ONGOING CAPITAL REQUIREMENTS
    * NISOURCE INC - TRANSACTION IMPLIES AN EQUITY VALUE OF
$10.8
BILLION AND ENTERPRISE VALUE OF $14.3 BILLION FOR 100% OF NIPSCO
    * NISOURCE INC: NIPSCO WILL REMAIN A VITAL PART OF NISOURCE,
WHICH
WILL RETAIN AN 80.1% STAKE IN NIPSCO
    * NISOURCE - CO WILL CONTINUE TO OPERATE NIPSCO; BLACKSTONE
WILL
RECEIVE MINORITY RIGHTS THAT ARE COMMENSURATE WITH ITS 19.9%
EQUITY OWNERSHIP INTEREST
    * NISOURCE INC: THROUGH 2030, NIPSCO EXPECTS TO INVEST
APPROXIMATELY $3.5 BILLION IN ELECTRIC GENERATION TRANSITION
INVESTMENTS

Source text for Eikon:  ID:nPn9WJYQla 
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