Laclede Puts Up $1B For Southern Union's Gas Utilities

Law360, New York (December 17, 2012, 6:18 PM EST) -- Laclede Group Inc. will shell out more than $1 billion to Sunoco Inc. owner Energy Transfer Partners LP for two Southern Union Co. natural gas delivery units in a deal that doubles the regional Missouri gas provider's customer base, the companies announced Monday.

St. Louis-headquartered Laclede, which currently serves about 630,000 customers in eastern Missouri, will pick up another 550,000 from Missouri Gas Energy and New England Gas Co., Southern Union's utility branches, according to a joint statement from Laclede and the seller.

"This investment is...
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