Spire Inc. said it will sell its Mississippi natural gas distribution business to Delta Utilities for $75 million in cash, a deal equal to 1.4 times the unit’s 2025 rate base. The transaction covers about 18,000 customers and roughly 745 miles of distribution pipelines in south-central Mississippi, including Hattiesburg.
The company said the sale will narrow its regulated gas footprint and shift capital toward its larger utility operations in Alabama, Missouri and Tennessee. Spire said the proceeds will help fund planned infrastructure investments across those three states.
Spire Mississippi employees who support the business are expected to move to Delta Utilities. The deal is expected to close in the first fiscal quarter of 2027, pending regulatory approval from the Mississippi Public Service Commission.
Delta Utilities said the acquisition will add geographically aligned systems in Mississippi, expanding its customer base, which currently stands at about 600,000 across Louisiana and Mississippi. Following these announcements, the company's shares moved 0.94%, and are now trading at a price of $91.09. For more information, read the company's full 8-K submission here.
