A PYMNTS Company

US: CenterPoint Energy buys Vectren in US$6b deal

By  |  April 23, 2018

Becoming the latest deal in the US power utility sector, gas and electric utility company CenterPoint Energy announced on Monday, April 23, it is buying rival Vectren for about US$6 billion, expanding its reach to serve more than 7 million customers in eight states.

Houston-based CenterPoint has natural gas operations in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. It has delivers electricity in the Houston area. It currently employs nearly 8,000 people.

Evansville, Indiana-based Vectren provides natural gas in Indiana and Ohio, along with electricity in Indiana. It employs about 5,500 people. The deal is expected to close in the first quarter of 2019.

Full Content: Washington Post

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.