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Tuesday, Sep 3
Alliant Energy sells its electrical and natural gas businesses for $128M
- Alliant Energy (LNT) agrees to sell its Minnesota electric and natural gas distribution businesses for a total of $128M.
- The electric business will be sold to Southern Minnesota Energy Cooperative, a group of 12 neighboring electric cooperatives, while a unit of Integrys Energy Group (TEG) will buy the natural gas business.
- The terms of the electric business deal includes a ten-year purchased power agreement between Southern Minnesota Energy Cooperative and LNT's Iowa electric utility.
- The deal is subject to regulatory approval, which is expected in six to 12 months.
- Shares +1.7% AH.