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NiSource Sells 19.9% Stake in NIPSCO to Blackstone for $2.16 Billion to Boost Renewable Energy Transition.

US-based utility NiSource has completed the sale of a 19.9% indirect equity interest in Northern Indiana Public Service Company (NIPSCO) to an affiliate of Blackstone for $2.16bn. Blackstone will also contribute an additional $250m equity investment for ongoing capital requirements. The transaction is expected to benefit NIPSCO’s ability to serve customers, strengthen its balance sheet, and fund ongoing capital needs. The funds will be used to support the transition from coal-fired electricity to renewable generation, and support the growth and development of NIPSco’s gas and electric transmission and distribution systems.

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