Summit Utilities’ $2.15 Billion Acquisition of Arkansas and Oklahoma Natural Gas LDC Businesses

Baker Botts LLP advised CenterPoint Energy, Inc. on the deal.

CenterPoint Energy, Inc. (NYSE: CNP) (“CenterPoint”) announced the sale of its Arkansas and Oklahoma natural gas LDC assets to Summit Utilities for $2.150 billion in cash, including recovery of approximately $425 million in cash of unrecovered storm-related incremental natural gas costs incurred in February 2021, subject to true-up at transaction close. The assets include approximately 17,000 miles of main pipeline in Arkansas, Oklahoma, and Texarkana serving more than half a million customers residing in high-quality regulatory jurisdictions.

The Baker Botts team included: Timothy S. Taylor (Partner, Houston, Picture); Clint Rancher (Partner, Houston); Jamie Yarbrough (Senior Associate, Houston); Joshua M. Gonzales (Associate, Houston); Robert Wann (Partner, New York); Michael Bresson (Partner, Houston); Richard Husseini (Partner, Houston); Renn Neilson (Partner, Houston); Jared Meier (Senior Associate, Houston); Derek Young (Senior Associate, Houston); Gail Stewart (Partner, Houston); Gabriela Alvarez (Associate, Houston); Thomas Fina (Partner, Washington, D.C.); Emil Barth (Partner, Washington, D.C.).

 

 

 

 

 

 

Involved fees earner: Gabriela Alvarez – Baker Botts LLP; Emil Barth – Baker Botts LLP; Michael Bresson – Baker Botts LLP; Thomas Fina – Baker Botts LLP; Joshua Gonzales – Baker Botts LLP; Richard Husseini – Baker Botts LLP; Jared Meier – Baker Botts LLP; Renn Neilson – Baker Botts LLP; Clint Rancher – Baker Botts LLP; Gail Stewart – Baker Botts LLP; Timothy Taylor – Baker Botts LLP; Robert Wann Jr. – Baker Botts LLP; Jamie Yarbrough – Baker Botts LLP; Derek Young – Baker Botts LLP;

Law Firms: Baker Botts LLP;

Clients: CenterPoint Energy Inc.;

Martina Bellini

Author: Martina Bellini