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Latest EnergySouth Inc. Stories

2008-10-01 18:00:42

Sempra Energy (NYSE: SRE) today announced the completion of its acquisition of Mobile, Ala.-based EnergySouth, Inc. for $510 million in cash. The acquisition was accomplished via a merger of a Sempra Energy subsidiary and EnergySouth. Sempra Energy's Sempra Pipelines & Storage unit will operate the EnergySouth business as part of Sempra Pipelines & Storage's existing operations. The acquisition, which was announced July 28, gives Sempra Energy a majority ownership in two large,...

2008-09-30 18:01:11

EnergySouth, Inc. (NASDAQ: ENSI) today announced approval of the acquisition of the company by San Diego, California based Sempra Energy (NYSE: SRE) by a majority of its shareholders. Seventy-one percent or 5,769,675 of the company's 8,115,435 outstanding shares voted in favor of the acquisition with two percent or 157,436 shares voting against. Less than one percent (.4%) or 32,120 of the outstanding shares abstained. Of the outstanding shares voted, ninety-seven percent voted in favor...

2008-08-22 03:00:40

By Anonymous The Deal: Sempra Energy has entered into a definitive agreement to purchase EnergySouth Inc. for $61.50 per share in cash. The boards of directors of both companies have approved the transaction. The deal remains subject to approval from EnergySouth shareholders and from regulatory authorities. The companies expect the transaction to close by the end of 2008. Discussion: EnergySouth Inc. is a holding company for natural gas distribution utilities. The company's Mobile Gas...

2008-07-29 15:01:07

By Dean Calbreath, The San Diego Union-Tribune Jul. 29--San Diego's Sempra Energy strengthened its growing grip on the natural gas market yesterday with an agreement to spend nearly $735 million to acquire a gas storage and distribution company in Alabama. Sempra said it will spend $510 million in cash buying the stock of EnergySouth Inc. and $224 million paying off EnergySouth's debts. Donald Felsinger, Sempra's chairman and chief executive, said the deal fits into the company's...

2008-07-28 12:01:00

Sempra Energy's announced purchase of EnergySouth, Inc. (ENSI, not rated by Fitch) has no ratings impact on SRE or its subsidiaries, according to Fitch Ratings. Fitch expects SRE to use new parent-level debt to finance the acquisition. The transaction is expected to close by year-end 2008. Fitch currently rates SRE as follows: --IDR 'A'; --Rating Outlook Stable. Adding the EnergySouth assets will not change SRE's operating risk profile. The gas storage assets provide...

2008-07-28 09:01:31

Sempra Energy (NYSE: SRE) and EnergySouth, Inc. (NASDAQ: ENSI) today jointly announced a definitive merger agreement for Sempra Energy to acquire Mobile, Ala.-based EnergySouth for $510 million in cash. Shareholders of EnergySouth will receive $61.50 per share for their EnergySouth stock. Central to the transaction will be Sempra Energy's acquisition of the assets of EnergySouth's subsidiary, EnergySouth Midstream, Inc., including a majority ownership in two large, high-cycle underground...


Word of the Day
negawatt
  • A unit of saved energy.
Coined by Amory Lovins, chairman of the Rocky Mountain Institute as a contraction of negative watt on the model of similar compounds like megawatt.