NiSource completes $2.16B minority equity sale of NIPSCO stake to Blackstone

NISOURCE INC.

Blackstone affiliate acquired 19.9% non-controlling indirect equity interest in NIPSCO for $2.16 billion cash.
Additional equity commitment of $250 million from Blackstone over three years to fund capital needs.
NiSource retains 80.1% controlling interest; transaction closed December 31, 2023.
Proceeds to strengthen balance sheet and support NIPSCO's energy transition and grid modernization.
NiSource reaffirms consolidated credit, earnings and growth commitments through 2028.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NISOURCE INC. entered into LLC Agreement with Investor valued at up to $250,000,000 (effective 2023-12-31).

Action: entry
Counterparty: Investor
Value: up to $250,000,000
Effective: 2023-12-31

Exact text from the filing

On December 31, 2023, pursuant to the terms of the Purchase Agreement and simultaneously with the Closing, Investor, NIPSCO Holdings I LLC, an Indiana limited liability company (“ Holdings I ”), Holdings II and NiSource entered into an Amended and Restated Limited Liability Company Agreement of Holdings II (the “ LLC Agreement ”).

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NISOURCE INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-000207

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