Duke Energy CORP (DUK): M&A transaction — Duke Energy completes sale of Piedmont TN gas business to Spire for $2.48B

Duke Energy CORP

Completed sale of Piedmont Tennessee natural gas business to Spire for $2.48B cash on March 31, 2026.
$800M proceeds used for debt paydown; net $1.5B to fund Duke's $103B capital plan.
Transaction includes ~3,800 miles of pipelines, 200K+ customers; employees transitioned to Spire.
Estimated pre-tax gain of $693M per pro forma; pro forma net income $887M for Piedmont.

item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Duke Energy CORP completed a disposition involving Spire Tennessee Inc. for $2.48 billion in cash (closed 2026-03-31).

Action: disposition
Counterparty: Spire Tennessee Inc.
Consideration: $2.48 billion in cash
Closing: 2026-03-31

Exact text from the filing

On March 31, 2026, and pursuant to the Purchase Agreement, Piedmont completed the Transaction for $2.48 billion in cash, subject to customary purchase price adjustments as set forth in the Purchase Agreement.

View on SEC.gov

Browse all m&a transactions →

Duke Energy CORP filing history →

Source: SEC EDGAR

accession 0001104659-26-038007

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.