Centerpoint Energy Announces Sale Of Its Louisiana And Mississippi Natural Gas Assets To Bernhard Capital Partners For $1.2B
Portfolio Pulse from Benzinga Newsdesk
CenterPoint Energy, Inc. (CNP) has sold its natural gas LDC businesses in Louisiana and Mississippi to Bernhard Capital Partners for $1.2 billion. The sale includes around 12,000 miles of pipeline and serves about 380,000 customers, making it the second largest in both states by customer accounts.
February 20, 2024 | 11:32 am
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CenterPoint Energy sells its Louisiana and Mississippi natural gas assets for $1.2 billion to Bernhard Capital Partners, impacting its asset portfolio and potentially its financial position.
The sale of significant assets like the natural gas LDC businesses could lead to a positive short-term impact on CNP's stock price due to the influx of cash from the sale. It may also reflect a strategic shift in the company's focus or an effort to streamline operations, which can be viewed positively by investors. However, the long-term impact will depend on how the proceeds are utilized.
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