Proposed merger of Sempra Energy, EnergySouth clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Sept. 9 - The Federal Trade Commission announced it granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Sempra Energy and EnergySouth, Inc.

In July Sempra Energy agreed to acquire EnergySouth for $61.50 per share, or a total of $510 million in cash.

The acquisition includes the assets of EnergySouth's subsidiary, EnergySouth Midstream, Inc., as well as a majority ownership in two large, high-cycle underground natural gas storage facilities, it was previously reported.

Sempra Energy will also acquire EnergySouth's Mobile Gas Service Corp., an Alabama natural gas distribution utility.

EnergySouth is a Mobile, Ala.-based holding company for a group of energy-related subsidiaries operating in the midstream services and distribution segments of the natural gas industry.

Sempra Pipelines & Storage operates Liberty Gas Storage, an underground natural gas storage facility in Calcasieu Parish, La. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company.

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