Update from SNL Energy: Sempra Energy to Acquire EnergySouth, Expand Gulf Coast Storage Presence
Shareholders of EnergySouth will receive $61.50 per share for their EnergySouth stock.
Charlottesville, Va. (Vocus/PRWEB ) July 30, 2008 -- This week, Sempra Energy announced it will expand its Gulf Coast operations by acquiring Mobile, Ala.-based EnergySouth Inc. for $510 million in cash. Shareholders of EnergySouth will receive $61.50 per share for their EnergySouth stock.
SNL Energy is closely following this proposed deal. Click on the following link to access more comprehensive information on Sempra's acquisition of EnergySouth, complete with charts detailing the companies' financials and assets, plus a map indicating the expansion along the Gulf Coast: http://www.snl.com/interactivex/article.aspx?CDID=A-8148582-11359.
Central to the transaction will be Sempra's acquisition of the assets of EnergySouth subsidiary EnergySouth Midstream Inc., including a majority ownership in two large, high-cycle underground natural gas storage facilities. When fully developed, the facilities will have 57 Bcf of capacity and will serve the nation's fastest-growing natural gas markets, the company said.
Sempra also will acquire Mobile Gas Service Corp., an Alabama natural gas distribution utility owned by EnergySouth, as part of the transaction. Mobile Gas serves approximately 93,000 customers in southwest Alabama, a region Sempra said stands to benefit from strong economic development within its service territory.
Analysis of Energy M&A deals is available as part of the SNL Energy Information Service. For more information on energy data available from SNL, call 866.296.3743 or email EnergySales @ snl.com.
About SNL Energy
SNL Energy, a division of SNL Financial, provides comprehensive intelligence for the power, natural gas and coal markets through an online service that integrates news, data, analytics and research. Other business sectors covered by parent company SNL Financial include Banking, Financial Services, Insurance, Real Estate and Media & Communications. For more information, visit www.SNL.com.
Visit the SNL Press Room at www.snl.com/press_room to learn more about resources available to members of the media.
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Monica Jenkins
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434.951.6951
Mjenkins @ snl.com
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