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Spire announces sale of its Mississippi natural gas business to Delta Utilities for $75 million

SR
  • Spire Inc. agreed to sell Spire Mississippi to Delta Utilities, backed by Bernhard Capital Partners, for $75 million in cash.
  • The transaction represents a 1.4x multiple of Spire Mississippi's 2025 rate base.
  • Spire Mississippi serves approximately 18,000 customers across roughly 745 miles of distribution pipelines in south-central Mississippi.
  • Proceeds from the sale will fund infrastructure investments in Spire's regulated gas utilities in Alabama, Missouri, & Tennessee.
  • Spire Mississippi employees are expected to transition to Delta Utilities to ensure service continuity.
  • The deal is subject to regulatory approval by the Mississippi Public Service Commission.
  • The transaction is expected to close in the first fiscal quarter of 2027.
  • Stinson LLP served as legal counsel to Spire Inc. for the agreement.