Blackstone paying $2.41B in minority stake deal with NiSource unit
Blackstone Inc.'s (BX) infrastructure unit has agreed to invest $2.41 billion in Northern Indiana Public Service Company LLC, a unit of NiSource Inc. (NI), the firms said Tuesday. NiSource said an affiliate of Blackstone Infrastructure Partners will pay $2.16 billion for 19.9% indirect non-controlling equity interest in Northern Indiana Public Service Co. Blackstone also made an additional equity commitment of $250 million to fund ongoing capital requirements. Sebastien Sherman, senior managing director, Blackstone Infrastructure, said the deal, "underscores Blackstone's commitment to decarbonization to create value for our investors and our desire to help facilitate the reindustrialization of the Midwest." Blackstone's stock rose by 76.5% in 2023 and was not trading in the premarket on Tuesday. NiSource stock fell 3.2% in 2023. The S&P 500 was up 24.2% in 2023.
-Steve Gelsi
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