Southwest Gas sees completion of spin-off of Centuri towards the end 1Q24

In the second quarter, Southwest Gas continued to pursue its previously announced plan to simplify the company’s business portfolio and position Southwest Gas as a pure-play utility. On June 21, the company announced that it had received approval from the ACC to divest its financial interest in and separate from Centuri. Additionally, the company confidentially submitted a draft Registration Statement on Form 10 with the SEC. The company anticipates completion of the spin-off of Centuri towards the end of the first quarter of 2024, subject to, among other things, the receipt of a favorable Internal Revenue Service private letter ruling relating to the tax-free nature of the transaction, SEC review and Form 10 effectiveness, and final approval by the Southwest Gas Board of Directors.