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CenterPoint Energy To Sell Miller Pipeline & Minnesota To PowerTeam For $850 Mln

February 03, 2020 — 06:49 am EST

Written by RTTNews.com for RTTNews ->

(RTTNews) - CenterPoint Energy Inc. (CNP) agreed to sell Miller Pipeline and Minnesota Limited to PowerTeam Services LLC for $850 million in cash.

The company will use net proceeds of the sale to repay a portion of outstanding its debt. It expects to close the sale in the second quarter of 2020.

Doug Banning will continue to oversee Miller Pipeline and Minnesota as its chief executive officer.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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