Deals
NiSource Plans Sale of Unit Tied to Gas Explosions
- Columbia Gas of Massachusetts could fetch about $2 billion
- NiSource facing more than $1 billion in disaster claims
Signage is displayed at the Columbia Gas of Massachusetts facility in Lawrence, Massachusetts.
Photographer: Scott Eisen/BloombergThis article is for subscribers only.
NiSource Inc. is weighing a sale of Columbia Gas of Massachusetts, according to people familiar with the matter, as it looks to unload the subsidiary responsible for deadly pipeline explosions last year.
NiSource is working with an adviser on an auction for the division, which could fetch about $2 billion, said the people, who asked to not be identified because the matter isn’t public. The company received bids this month from rival utilities, the people said. No final decision has been made and NiSource could opt to keep the business, they said.