Federal Energy Regulatory Commission Approves NiSource's Sale Of 19.9% Stake In NIPSCO To Blackstone Infrastructure Partners Affiliate
Portfolio Pulse from Benzinga Newsdesk
The Federal Energy Regulatory Commission has approved NiSource's sale of a 19.9% stake in NIPSCO to an affiliate of Blackstone Infrastructure Partners. The deal is part of NiSource's long-term strategy to strengthen its balance sheet and focus on its core regulated utility operations.
October 20, 2023 | 7:35 am
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POSITIVE IMPACT
Blackstone Infrastructure Partners, an affiliate of Blackstone Group, has received approval to acquire a 19.9% stake in NIPSCO from NiSource.
The acquisition of a significant stake in NIPSCO could potentially diversify Blackstone Infrastructure Partners' portfolio and generate additional revenue streams. This could have a positive impact on Blackstone Group's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
NiSource's sale of a 19.9% stake in NIPSCO to Blackstone Infrastructure Partners has been approved, which is part of its strategy to focus on core regulated utility operations.
The sale of a significant stake in NIPSCO will allow NiSource to focus on its core operations and strengthen its balance sheet. This could potentially lead to improved financial performance and a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100