Entergy announced Monday (10/30) it has entered into an agreement to sell its gas distribution business to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for approximately $484 MM in cash, subject to certain purchase price adjustments. Entergy Louisiana’s gas business serves approximately 95,000 homes and businesses in the Baton Rouge area, and Entergy New Orleans’ gas business serves approximately 109,000 homes and businesses in New Orleans. If approved, the net proceeds from the transaction will be used to strengthen Entergy’s credit through the repayment of debt and to support the customer-centric capital needs in its growing electric utility business.
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