Atmos Energy Corp. completed the sale of its natural gas distribution assets in Missouri, Illinois and Iowa to Liberty Energy (Midstates) Corp., an affiliate of Algonquin Power & Utilities Corp. The deal includes transfer of 84,000 residential and commercial meters. Net cash proceeds for rate base and related working capital were $129 million.
Atmos will also sell substantially all of its natural gas distribution assets located in Georgia to Liberty Energy (Georgia) Corp., another affiliate of Algonquin. The transaction will include the transfer of 64,000 meters at a price of $141 million.
“We have worked with Algonquin over the last year to transition our Missouri, Illinois and Iowa operations and are pleased to be able to consummate another asset sale with such a fine company. We know that Algonquin shares our focus on safety, reliability and providing excellent customer service to our Georgia customers,” said Kim R. Cocklin, President and CEO Atmos Energy Corp.