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NiSource weighs sale of unit tied to gas explosions - Bloomberg

Jun. 17, 2019 5:47 PM ETNiSource Inc. (NI) StockNIBy: Carl Surran, SA News Editor2 Comments
  • NiSource (NYSE:NI) is planning a sale of Columbia Gas of Massachusetts, the subsidiary responsible for deadly pipeline explosions last year, Bloomberg reports.
  • NI received bids this month from rival utilities for the division, which could fetch ~$2B, according to the report.
  • NI said last month it is potentially facing more than $1B in claims from last year's Merrimack Valley gas explosions, which killed one person and injured more than two dozen.
  • Columbia Gas of Massachusetts is one of the state's largest distributors of natural gas, with 323K customers.

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