Seeking Alpha

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.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs