Spire Inc. (NYSE: SR) announces that it has entered into an agreement to acquire MoGas Pipeline (MoGas), an interstate natural gas pipeline, and Omega Pipeline (Omega), a connected gas distribution system, from CorEnergy Infrastructure Trust, Inc. (NYSE: CORR), for $175 million, subject to the usual working capital adjustments and other closings.
Over 330 miles of gas pipelines
The transaction is expected to close in Spire’s fourth fiscal quarter, subject to Hart-Scott-Rodino review and customary closing conditions. MoGas owns and operates approximately 263 miles of interstate natural gas pipelines, mainly in Missouri, and is regulated by the Federal Energy Regulatory Commission. MoGas is interconnected with the Spire STL pipeline and other regional pipelines to supply gas to Spire Missouri’s growing customer base in St. Louis, Missouri counties. Charles, Franklin and western St. Charles County. Louis, as well as other utility, municipal, industrial and commercial customers. Omega owns and operates an approximately 75-mile natural gas distribution system in Fort Leonard Wood, in south-central Missouri, and is interconnected with the MoGas system.
