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Atmos Energy Corp Completes Sale Of Natural Gas Distribution Assets In Georgia To Algonquin Power & Utilities Corp's Liberty Energy (Georgia) Corp.

Monday, 1 Apr 2013 05:01pm EDT 

Atmos Energy Corp announced that it completed the sale of substantially all of its natural gas distribution assets located in Georgia to Liberty Energy (Georgia) Corp., an affiliate of Algonquin Power & Utilities Corp. The transaction included the transfer of approximately 64,000 residential and commercial meters. Net cash proceeds for rate base and related working capital were approximately $155 million, subject to final purchase price adjustments. These proceeds will be redeployed to fund growth opportunities in the remaining jurisdictions the company serves. Atmos Energy expects to record a net of tax gain on the sale of approximately $6 million, or $0.07 per diluted share, subject to final purchase price adjustments. 

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0.32 +0.64%
28 Aug 2014