CenterPoint Energy (CNP) Sells Louisiana and Mississippi Gas Assets to Bernhard Capital Partners for $1.2B
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CenterPoint Energy announces sale of its Louisiana and Mississippi natural gas assets to Bernhard Capital Partners for $1.2 billion
February 20, 2024 6:31 AM ESTTransaction valuation represents approximately 32 multiple of 2023 Louisiana and Mississippi Local Distribution (LDC) earnings Sale will enable company to efficiently recycle approximately $1 billion in anticipated after-tax cash proceeds to support industry-leading capital plan Transaction also enables CenterPoint to reprioritize future capital investments related to those assets of approximately $1 billion elsewhere across its regulated Electric and Natural Gas utility footprint Closing expected toward the end of first quarter of 2025 Sale will not change companys targeted utility non-GAAP EPS growth rate of 8% in 2024, and the mid-to-high end of 6%-8% annually from... More
