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Final Approval Received for Emera’s Sale of New Mexico Gas Company

  • Emera Inc. received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas Company to Bernhard Capital Partners.
  • The transaction was first announced in August 2024 with an estimated aggregate value of approximately $1.25 billion USD.
  • Emera expects after-tax net proceeds of $650-$700 million USD to fund investment opportunities in regulated utilities & repay company debt.
  • New Mexico Gas Company was acquired by Emera in 2016 through the purchase of TECO Energy & operates 19,300 km of pipeline serving 553,000 customers.
  • The sale is expected to be completed in August 2026.