NEXTERA ENERGY INC acquired Florida City Gas (entity owning FCG, from NUI Corporation / Southern Company Gas) for approximately $530 million in cash, a transaction completed in July 2018, structured as all cash.
Florida City Gas (entity owning FCG, from NUI Corporation / Southern Company Gas) operates in Regulated natural gas (Florida), is based in South Florida. NextEra completed the acquisition of the outstanding common shares of the entity that owns Florida City Gas under a stock purchase agreement with NUI Corporation and Southern Company Gas, affiliates of The Southern Company, for approximately $530 million in cash. Florida City Gas is a regulated natural-gas distribution utility in south Florida.
Part of NextEra's all-cash agreements with Southern Company to add attractive regulated Florida franchises; the natural-gas franchise complements NextEra's existing in-state operations.
Adds a regulated gas distribution franchise adjacent to NextEra's Florida utility footprint at a defined cash price. Operated as a NextEra regulated natural-gas utility in Florida.
On July 29, 2018, NextEra Energy, Inc. completed the previously announced acquisition of the outstanding common shares of the entity that owns Florida City Gas (FCG) under a stock purchase agreement with NUI Corporation and Southern Company Gas, affiliates of The Southern Company, for approximately $530 million in cash.NextEra Energy, Form 8-K (Item 2.01), filed July 30, 2018
Advisory firms were not disclosed for this transaction.