TECO Energy files for regulatory approval of N.M. acquisition

On Tuesday, TECO Energy Inc. filed its application with the New Mexico Public Regulation Commission (PRC) to approve its acquisition of New Mexico Gas Co.

The application – more than 100 pages of testimony and exhibits – was filed jointly with New Mexico Gas Co. and its parent company, Continental Energy Systems LLC.

We expect a decision from the PRC by early 2014.

In May, TECO Energy entered into a definitive stock purchase agreement with Continental Energy Systems to acquire New Mexico Gas Co. for a purchase price of $950 million. The transaction is expected to close in the first quarter of 2014.

This entry was posted in News. Bookmark the permalink.