Morgan Lewis, Baker Botts Drive $2.15B Gas Systems Deal

By Benjamin Horney (April 29, 2021, 6:08 PM EDT) -- Summit Utilities will purchase CenterPoint Energy's gas distribution assets in Arkansas and Oklahoma in a deal that carries an enterprise value of $2.15 billion and was put together with assistance from respective legal advisers Morgan Lewis and Baker Botts, the companies said Thursday.

The acquisition adds to the portfolio of Summit Utilities Inc.'s gas distribution systems, which include 17,000 miles of gas main pipeline across Arkansas, Oklahoma and Texarkana, Texas, and serve roughly 525,000 customers in Arkansas and Oklahoma, according to a statement. Founded in 2007, Summit operates in Arkansas, Colorado, Maine, Missouri and Oklahoma.

Kurt Adams, president and CEO of...

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