Piedmont Natural Gas invests $22.5M in SouthStar Energy to maintain a 15% stake

Piedmont Natural Gas (PNY +0.7%) says it's made an additional $22.5M cash investment into SouthStar Energy Services, a joint venture with AGL Resources (GAS), to maintain a 15% stake.

AGL will contribute unregulated retail natural gas customer accounts and related assets it acquired from Nicor in December, 2011 and the unregulated retail natural gas customer accounts it acquired in a separate transaction in June 2013, both in Illinois.

The investments will expand SouthStar's customer base by approximately 108,000 customers.

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