News Releases

Baker Botts Advises CenterPoint Energy in $2.15 Billion Sale of Arkansas and Oklahoma Natural Gas LDC Businesses to Summit Utilities

Release

Deal Description: CenterPoint Energy, Inc. (NYSE: CNP) (“CenterPoint”) today announced the sale of its Arkansas and Oklahoma natural gas LDC assets to Summit Utilities for $2.150 billion in cash, including recovery of approximately $425 million in cash of unrecovered storm-related incremental natural gas costs incurred in February 2021, subject to true-up at transaction close. The assets include approximately 17,000 miles of main pipeline in Arkansas, Oklahoma, and Texarkana serving more than half a million customers residing in high-quality regulatory jurisdictions.

Baker Botts Lawyers/Office Involved:

Corporate: Timothy S. Taylor (Partner, Houston); Clint Rancher (Partner, Houston); Jamie Yarbrough (Senior Associate, Houston); Joshua M. Gonzales (Associate, Houston).

Finance: Robert Wann (Partner, New York)

Tax: Michael Bresson (Partner, Houston); Richard Husseini (Partner, Houston); Renn Neilson (Partner, Houston); Jared Meier (Senior Associate, Houston); Derek Young (Senior Associate, Houston)

Employee Benefits: Gail Stewart (Partner, Houston); Gabriela Alvarez (Associate, Houston)

Antitrust: Thomas Fina (Partner, Washington, D.C.)

Regulatory: Emil Barth (Partner, Washington, D.C.)

CenterPoint’s press release can be read here.

 

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Baker Botts is an international law firm of approximately 700 lawyers practicing throughout a network of 13 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the technology, energy, and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

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