- Sempra Energy (SRE +0.4%) agrees to sell EnergySouth, the parent company of Mobile Gas and Wilmut Gas, to Laclede Group (LG -0.6%) for ~$323M; LG also will assume existing debt of ~$67M.
- SRE says it can more productively redeploy the proceeds from the sale into long-term growth opportunities that meet its strategy.
- SRE says it will retain all non-utility businesses in EnergySouth.
- Now read J.P. Morgan on gas utilities: NiSource downgraded, Atmos undervalued