CenterPoint Energy to Divest Mississippi, Louisiana Natural Gas Assets for $1.2B

By Adriano Marchese

CenterPoint Energy said Tuesday that it will sell its natural gas assets in Mississippi and Louisiana to a private equity firm for $1.2 billion as it looks to optimize its portfolio.
The Texas-based investor-owned electric and gas utility company said that it has agreed to divest the assets to Bernhard Capital Partners, a private-equity firm that focuses on the services and infrastructure sectors.

The assets slated for sale include about 12,000 miles of main pipeline in the two states which serve about 380,000 metered customers, and employ about 550 people.
CenterPoint said the divestiture of the assets will allow the company to efficiently recycle about $1 billion in expected post-tax cash proceeds to support its capital plan.
The transaction is expected to close toward the end of first quarter of 2025.
Write to Adriano Marchese at adriano.marchese@wsj.com