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Spire to Acquire Duke’s Tennessee Gas Business for $2.5 Billion
Duke Energy agreed to sell its Tennessee Piedmont Natural Gas business to Spire Inc. for $2.5 billion. The agreement includes nearly 3,800 miles of distribution and transmission pipelines and a liquefied natural gas facility serving about 200,000 customers in the Nashville area.
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Spire to acquire Duke Energy’s Piedmont Natural Gas business in Tennessee, USThe acquisition, pending regulatory approvals, will result in the creation of a new business unit, Spire Tennessee.
Duke Energy said Monday that it had struck a deal to acquire Piedmont Natural Gas in a deal worth about $4.9 billion, adding roughly 1 million natural-gas customers to its base.
Piedmont is not Duke’s first foray into natural gas. Duke spun off Spectra Energy, which operates pipelines and other natural gas infrastructure, in January 2007 after its 2006 merger ...
Duke Energy said it would buy natural gas distributor Piedmont Natural Gas, its partner in the $5 billion Atlantic Coast Pipeline, for $4.9 billion in cash.
Duke Energy and Piedmont will maintain their current levels of community involvement and charitable giving.The deal is expected to be complete by the end of 2016. CHARLOTTE, N.C. — ...
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