El Paso Electric Co. (EPE) and the Infrastructure Investments Fund (IIF), a $12.2 billion private investment vehicle advised by J.P. Morgan Investment Management, have reached an agreement in principle with the Public Utility Commission of Texas (PUCT) staff regarding IIF’s proposed acquisition of EPE.
“This agreement in principle is an important milestone toward completing IIF’s acquisition of EPE and demonstrates our shared belief that this transaction creates meaningful benefits for EPE and EPE’s communities, customers and employees,” said EPE and IIF in a joint statement. “We look forward to submitting the settlement agreement for review and approval to the PUCT.”
In September, the majority of EPE shareholders approved the sale of the company to IIF at a special meeting. Financial terms were not disclosed.
The PUCT has now issued an order delaying th
