Spire Inc. and I Squared Capital, a global infrastructure investment manager, have announced they have entered into an agreement in which I Squared will acquire Spire’s natural gas storage assets in Wyoming and Oklahoma.
Total consideration of the transaction is $650 million, consisting of $600 million in cash at closing and a $50 million fixed, non-contingent deferred payment to be received in Spire’s fiscal 2027.
Proceeds from the transaction are expected to partially fund Spire’s acquisition of the Piedmont Natural Gas Tennessee business, which closed on March 31, 2026, and completes its related financing plan.
I Squared intends to support the next phase of growth of the platform, including enhancing operational capabilities and pursuing expansion opportunities to serve increasing demand for natural gas storage across the Western and Mid-Continent regions.
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