NiSource Sells Minority Stake In NIPSCO For $2.16 Bln

(RTTNews) - NiSource Inc. (NI), a utilities company, said on Tuesday that it has sold a 19.9 percent indirect equity interest in its Northern Indiana Public Service Company LLC or NIPSCO, to an affiliate of Blackstone Infrastructure Partners of Blackstone Inc. (BX), for $2.16 billion.

The transaction has an additional equity commitment of $250 million to fund ongoing capital requirements.

With this, the Blackstone affiliate has acquired a 19.9 percent non-controlling equity interest in NIPSCO Holdings II LLC, which owns all the equity interests of NIPSCO, and NiSource will own the remaining 80.1 percent of NIPSCO Holdings II LLC.

NIPSCO is Indiana's vertically integrated electric and gas distribution company.