Teco Energy to buy New Mexico Gas Co for $950 mln

Tue May 28, 2013 7:17am EDT

May 28 (Reuters) - Teco Energy Inc said it would acquire New Mexico Gas Co for about $950 million, including debt, to widen its customer base in Florida and New Mexico.

New Mexico Gas serves about 509,000 customers in New Mexico. Teco Energy units will serve more than 1.5 million regulated electric and gas utility customers in Florida and New Mexico, upon deal close.

Teco owns a Florida utility, Tampa Electric Co and coal producer Teco Coal.

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