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CenterPoint Energy completes sale of Miller Pipeline and Minnesota Limited

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Christian Fernsby ▼ | April 10, 2020
CenterPoint Energy announced the close of its previously announced sale of Miller Pipeline and Minnesota Limited to PowerTeam Services, LLC for $850 million in cash, subject to customary purchase price adjustments.
CenterPoint Energy
PowerTeam Services   CenterPoint Energy
The net proceeds of the sale will be used to repay a portion of outstanding CenterPoint Energy debt.

Topics: CenterPoint Energy

"The close of this transaction is a significant step in streamlining CenterPoint Energy's operations and driving our strategy of growing our core utility operations," said John W. Somerhalder II, interim president and CEO.

After the close of the sale, CenterPoint Energy consists of approximately 9,900 employees who continue to operate its utility businesses serving more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas as well as its competitive energy businesses in more than 30 states.