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Eversource To Buy NiSource's Columbia Gas Of Massachusetts Assets For $1.1 Bln

(RTTNews) - Eversource Energy (ES) said it agreed to purchase the Massachusetts natural gas assets of Columbia Gas from NiSource for $1.1 billion.

Columbia Gas currently serves 330,000 natural gas customers in more than 60 communities in Massachusetts. Eversource has 300,000 natural gas customers and 1.5 million electric customers in 51 communities across the commonwealth.

The transaction is expected to be accretive to Eversource's earnings per share in the first 12 months after closing. The company plans to finance the transaction with a balance of new equity and debt that maintains its strong credit profile.

The companies expect to close the transaction by the end of the third quarter
2020.

NiSource said that it has withdrawn its 2020 net operating earnings per share guidance of $1.36 to $1.40, due to the execution of the transaction.
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