El Paso Electric sale to JPMorgan-tied investment fund scheduled to become final Wednesday. El Paso Electric’s pending $4.3 billion sale is expected to become final Wednesday as the Nuclear Regulatory Commission reviews some ownership issues tied to the buyer.
What happened to El Paso Electric stock?
As part of this transaction, El Paso Electric Company ceased trading on the New York Stock Exchange as of market close July 29, 2020 and can no longer be bought or sold.
Who bought El Paso?
JPMorgan Chase-tied Infrastructure Investments Fund
The deal is finally done. El Paso Electric is no longer a publicly traded electric utility. It’s now owned by the JPMorgan Chase-tied Infrastructure Investments Fund, or IIF, which on June 1, 2019, agreed to buy the 117-year-old electric utility for $4.3 billion, including assuming $1.5 billion of the utility’s debt.
Who owns Infrastructure Investments Fund?
J.P. Morgan Investment Management Inc.
Infrastructure Investments Fund (of J.P. Morgan Investment Management Inc.) to Acquire South Jersey Industries | News | Willkie Farr & Gallagher LLP.
What electric company does El Paso use?
El Paso Electric is a Texas-based public utility company, engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico.
Did JP morgan buy El Paso Electric?
EL PASO, Texas – The $4.3 billion sale of El Paso Electric Company to an investment fund controlled by global financial giant JP Morgan officially closed Wednesday as the new ownership immediately named an incoming CEO for the utility firm.
How many customers does El Paso Electric have?
Today, El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 450,000 retail and wholesale customers in a 10,000 square mile area of the Rio Grande valley in west Texas and southern New Mexico.
When did Kinder Morgan buy El Paso?
October 16, 2011
On October 16, 2011, El Paso Corporation announced that it has entered into a definitive agreement whereby Kinder Morgan, Inc. will acquire all of the outstanding shares of El Paso Corporation. For more information, visit www.elpaso.com.
Who owns Old El Paso?
General Mills
Old El Paso products are marketed across the globe. The brand is owned by General Mills. Pillsbury acquired it in 1995, when its then-parent company Grand Metropolitan bought Pet, Inc., which had itself taken over the brand in 1968 from the Mountain Pass Canning Company.
Is El Paso Electric a federal contractor?
The company is a federal contractor because it has contracts with the Fort Bliss Army post in El Paso and Holloman Air Force Base in Alamogordo, New Mexico, and other federal contracts, he said. “We’re following federal guidelines,” Almanzan said.
Which infrastructure fund is best?
Which are the best Sectoral-Infrastructure Mutual Funds to invest in 2022?
| Fund Name | Fund Category | 5 Year Return (Annualized) |
|---|---|---|
| ICICI Prudential Infrastructure Fund | Equity | 13.49 % p.a. |
| Canara Robeco Infrastructure Fund | Equity | 12.72 % p.a. |
| Kotak Infrastructure and Economic Reform Fund | Equity | 13.12 % p.a. |
Who purchased SJI?
IIF
On February 24, 2022, SJI announced that it had entered into a definitive agreement to be acquired by IIF. The per share purchase price of $36.00 represented a 46.3% premium to SJI’s 30-day volume weighted average price (VWAP) as of February 23, 2022, the last trading day prior to the announcement of the agreement.
Who is buying South Jersey Gas?
the Infrastructure Investments Fund
South Jersey Industries, Inc., the owner of two of the state’s four gas utilities, is being taken private in an all-cash deal valued at $8.1 billion. The Folsom-based energy company has entered into an agreement to be acquired by the Infrastructure Investments Fund, a group within J.P. Morgan Investment Management Inc.
How much is the average electric bill in El Paso?
Electricity bills in El Paso County, TX
In El Paso County, TX, the average monthly electricity bill for residential consumers is $198/month, which is calculated by multiplying the average monthly consumption by the average rate for electricity: 1,464 kWh * 14 ¢/kWh.
Is gexa energy good?
Gexa Energy is consistently a company with high ratings, and the current list of the best energy providers in Texas includes: Gexa Energy (855-639-8212): low rates, trusted brand, 100% green plans. Pulse Power (888-853-4219): trusted, fastest growing due to ultra-low rates.
How many employees does El Paso Electric have?
A large utilities company with 1,100 employees and an annual revenue of $862.0M, El Paso Electric is headquartered in Texas.
Is El Paso Electric a monopoly?
Unlike most other Texas utilities, El Paso Electric operates as a monopoly, so its 420,000 customers in West Texas and New Mexico don’t have the opportunity to choose among competing providers.
Does El Paso Electric have net metering?
NET METERING
As a DG metering customer, with an approved Interconnection Application, you will have bi-directional and REC meters installed by EPE. Net consumption is charged at the applicable rate and net production is credited based on EPE’s Rate Schedule No. 48.
Why is El Paso called the Sun City?
Known as “Sun City” because of its approximately 302 days of sunshine annually! The beauty of our desert sun, surrounding desert and mountains really sets El Paso apart – always bright, cheerful, and welcoming.
Is Kinder Morgan a good investment?
Kinder Morgan currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
Is Kinder Morgan still in business?
Kinder Morgan is now one publicly traded company with a ticker on the New York Stock Exchange of KMI.