NiSource completes NIPSCO minority equity interest transaction

NiSource (NI) completed the issuance of a 19.9% indirect equity interest in the company’s Northern Indiana Public Service Company – NIPSCO – subsidiary to an affiliate of Blackstone Infrastructure Partners (“Blackstone Infrastructure”), the dedicated infrastructure group of Blackstone (BX). Through the transaction the Blackstone affiliate has acquired a 19.9% non-controlling equity interest in NIPSCO Holdings II, which owns all the equity interests of NIPSCO, and NiSource will own the remaining 80.1% of NIPSCO Holdings II. Blackstone Infrastructure is committed to investing behind NIPSCO’s energy transition and decarbonization programs. NiSource intends to use the capital infusion to support its utility, strengthen its balance sheet and fund ongoing capital needs associated with the renewable generation transition underway. NIPSCO is Indiana’s largest vertically integrated electric and gas distribution company, providing utility service to almost 1.3 million customers.