DivestmentApr 30, 2026, 04:41 PM
SR Completes $215M Sale of Gas Marketing Business
AI Summary
Spire Inc. announced the completion of the sale of its gas marketing business, Spire Marketing Inc., to Boardwalk Pipelines, LP for $215.0 million in cash. This divestment, effective April 30, 2026, allows Spire to sharpen its focus on core regulated natural gas utility operations, improve its risk profile, and enhance long-term earnings visibility. The proceeds from the sale will be used to partially fund Spire's acquisition of the Piedmont Natural Gas Tennessee business and for general corporate purposes.
Key Highlights
- Spire Inc. completed the sale of its wholly-owned subsidiary, Spire Marketing Inc., to Boardwalk Pipelines, LP.
- The transaction was completed for $215.0 million in cash, subject to post-closing adjustments.
- The sale sharpens Spire's focus on regulated natural gas utility businesses.
- Proceeds will partially fund the acquisition of Piedmont Natural Gas Tennessee business and for general corporate purposes.
- Spire Marketing employees and clients will transition to Boardwalk Continuum Marketing, LLC.