MISSOURI, USA — Spire Inc., the St. Louis-based natural gas utility company, has agreed to acquire two Missouri pipeline systems from another public company.
Spire (NYSE: SR) said Thursday that it has agreed to buy MoGas Pipeline and Omega Pipeline from Kansas City-based CorEnergy Infrastructure Trust Inc. (NYSE: CORR) for $175 million.
The transaction is expected to close in Spire's fiscal fourth quarter ending in September, pending regulatory and other closing conditions, officials said. CorEnergy said it would use proceeds from the cash deal to repay bank debt.
MoGas owns and operates an approximately 263-mile interstate natural gas pipeline system, primarily in Missouri but also serving Illinois.
