The American oil and gas company National Fuel Gas Company of Western New York has entered into an agreement with CenterPoint Energy Inc. to acquire a gas company in Ohio for $2.6 billion. This is reported in a press release from National Fuel Gas.
National Fuel plans to finance the deal by attracting a bridge loan from Toronto-Dominion Bank and Wells Fargo. At the same time, CenterPoint intends to direct the raised funds to the development of electric and gas companies in the states of Texas, Indiana and Minnesota.
The deal demonstrates the desire of American utility companies to sell non-core assets in order to refocus their strategy. In particular, the management of Center Point plans to invest $65 billion over 10 years in the development of the company's energy sector.
The deal is aimed at expanding Nation Fuel's presence in the field of regional utilities, taking into account the operation of 9.5 thousand km of pipelines owned by a gas company in Ohio.
TD Securities and Jones Day act as advisors to National Fuel, while Goldman Sachs Group Inc. and Guggenheim Securities serve as advisors to CenterPoint. The transaction is expected to be completed in the fourth quarter of 2026.
National Fuel Gas Company is an American energy company headquartered in Williamsville, New York. The company is engaged in the development of oil and gas deposits in California and the Appalachian region of the United States, including the Marcellus and Utica shale fields, as well as the transportation, sale and storage of gas. The company's market capitalization is $6.31 billion. The headquarters is located in Buffalo, New York.
CenterPoint Energy, Inc. is an American utility energy company. The headquarters is located in Houston, Texas.
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