Summit Utilities to acquire CenterPoint Energy's gas distribution assets for US$2.1bn

30 Apr 2021

Summit Utilities Inc has signed a definitive agreement to acquire the Arkansas and Oklahoma gas distribution assets of CenterPoint Energy Inc for an enterprise value of US$2.15bn (£1.5bn).

CenterPoint's Arkansas and Oklahoma gas distribution systems serve approximately 525,000 customers and include 17,000 miles of gas main pipeline across Arkansas, Oklahoma and Texarkana, Texas.

Expanding its service territories in Arkansas and Oklahoma will provide Summit with additional scale and capacity to further its mission of providing exceptional service to natural gas customers in the region.

The transaction is anticipated to close by the end of 2021, subject to customary closing conditions.

Summit Utilities Inc owns natural gas distribution and transmission subsidiaries that operate in Arkansas, Colorado, Maine, Missouri and Oklahoma.

Summit Utilities Inc entities serve approximately 100,000 customers and operate more than 5,400 miles of pipeline in Arkansas, Colorado, Maine, Missouri and Oklahoma.

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