Spire agrees to sell Mississippi gas utility to Delta Utilities for $75 million
Spire Inc. (NYSE: SR) said its subsidiary Spire EnergySouth agreed on April 21, 2026 to sell Spire Mississippi, a natural gas utility serving about 18,000 customers, to Delta Utilities for $75 million in cash. The sale is subject to Mississippi Public Service Commission approval and is expected to close in the first fiscal quarter of 2027; Spire plans to use the proceeds to fund infrastructure investments in Alabama, Missouri and Tennessee.
Key points
- Purchase price of $75 million, subject to adjustments; the press release cites a 1.4x multiple of 2025 rate base
- Spire Mississippi has about 745 miles of distribution pipelines and about 18,000 customers in south-central Mississippi
- If the deal is terminated under qualifying circumstances, Purchaser would pay a reverse termination fee of $7.5 million
- Closing expected in the first fiscal quarter of 2027, subject to MPSC approval
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.