Laclede Group to Acquire Alagasco in Late 2014

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10 Apr 2014 15:17 Helen Clark

CHEMMONITOR.COM – Energen (the US) is going to sell its Alabama Gas (Alagasco) business to Laclede Group (the US) for USD 1.28 billion in cash and around USD 320 million in debt.

The firm’s after-tax proceeds will total USD 1.1 billion. Energen will use the cash proceeds to minimize its exploration debt and accelerate development of its Permian Basin, which will begin in 2015.

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