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Corporate Score 42 Neutral

Spire Divests Mississippi Natural Gas Assets in $75 Million Cash Transaction

Apr 22, 2026 13:15 UTC
SR
Short term

Spire has reached an agreement to sell its local distribution operations in Mississippi to Delta Utilities. The deal involves the transfer of pipeline infrastructure serving approximately 18,000 customers.

  • Cash deal valued at $75 million
  • Acquisition by Bernhard Capital Partners-backed Delta Utilities
  • Transfer of 745 miles of pipeline infrastructure
  • Impacts 18,000 customers in south-central Mississippi
  • Strategic realignment of Spire's asset base

Spire (SR) announced on Wednesday that it has entered into a definitive agreement to sell its Mississippi local distribution company to Delta Utilities for a total cash consideration of $75 million. The transaction marks a strategic shift in the company's regional footprint. Delta Utilities, the acquiring entity, is backed by Bernhard Capital Partners. This divestiture allows Spire to streamline its operational portfolio by offloading specific regional assets to a specialized utility operator. The assets included in the sale comprise 745 miles of distribution pipelines. These infrastructure components currently provide essential natural gas services to roughly 18,000 customers located across the south-central region of Mississippi. From a market perspective, the move is viewed as a routine optimization of assets. While the $75 million cash injection strengthens the balance sheet, the scale of the divestiture is unlikely to cause significant fluctuations in Spire's share price, as it represents a small fraction of the company's overall utility operations.

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