BUZZ-Duke Energy rises on $2.48 billion sale of Tennessee natural gas business
Shares of utility company Duke Energyrise 1.4% at $119.15 Company to sell its Piedmont Natural Gas Tennessee distribution company to Spire Incfor $2.48 billion in cashDUK says that about $800 mln of the purchase will be used to pay down debt at Piedmont Natural GasCompany adds remaining net proceeds of $1.5 billion will help fund its $83 billion five-year capital planPiedmont’s primary operations will continue in the Greater Nashville areaTransaction is expected to close in 1Q26Including sessions moves, DUK up ~11% YTD
Shares of utility company Duke Energy (DUK.N) rise 1.4% at $119.15 Company to sell its Piedmont Natural Gas Tennessee distribution company to Spire Inc (SR.N) for $2.48 billion in cash
DUK says that about $800 mln of the purchase will be used to pay down debt at Piedmont Natural Gas
Company adds remaining net proceeds of $1.5 billion will help fund its $83 billion five-year capital plan
Piedmont’s primary operations will continue in the Greater Nashville area
Transaction is expected to close in 1Q26
Including sessions moves, DUK up ~11% YTD
