Spire completes sale of natural gas storage businesses to I Squared Capital for $650M

SPIRE INC

Total consideration $650M: $600M cash at closing plus $50M deferred payment in FY2027.
Proceeds used to partially fund the acquisition of Piedmont Natural Gas Tennessee business (closed March 31, 2026).
Spire Storage employees and customers become part of new I Squared portfolio company Bear River Midstream LLC.
Storage assets include two Wyoming fields (55 Bcf working gas capacity) and one Oklahoma field (17 Bcf).
Transaction sharpens Spire's focus on regulated natural gas utility operations and enhances financial position.

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.