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Spire To Acquire Mogas And Omega Pipeline Systems

PUBLIC · SPIRMay 25, 2023

Acquiring Company

Spire

Acquired Company

MOGAS Industries

ViennaHoustonInformation TechnologyEnergyOil And GasManufacturing

Description

Spire Inc. (NYSE: SR) today announced it has entered into an agreement to acquire MoGas Pipeline (MoGas), an interstate natural gas pipeline, and Omega Pipeline (Omega), a connected gas distribution system, from CorEnergy Infrastructure Trust, Inc. (NYSE: CORR), for $175 million, subject to customary working capital and other closing adjustments. The transaction is expected to close in Spire's fiscal fourth quarter, pending Hart-Scott-Rodino review and subject to customary closing conditions.

Quick answer

Spire is acquiring MOGAS Industries and Omega, announced May 25, 2023. Spire is based in Vienna, Virginia, United States.

How much did Spire pay for MOGAS Industries?
The deal value was not disclosed.
What does Spire do?
At Spire Inc. (NYSE: SR), we believe energy exists to help make people's lives better.
Where are Spire and MOGAS Industries based?
Spire is based in Vienna, Virginia, United States. MOGAS Industries is based in Houston, Texas, United States.
Who are the decision-makers at Spire?
Fundz holds 4 contacts at Spire. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

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Company Information

Company

Spire

Location

8000 Towers Crescent Drive

Vienna, Virginia, United States

About

At Spire Inc. (NYSE: SR), we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing, Spire STL Pipeline and Spire Storage. We are committed to transforming our business through growing organically, investing in infrastructure, and advancing through innovation. Learn more at SpireEnergy.com. Forward Looking InformationThis news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. More complete descriptions and listings of these uncertainties and risk factors can be found in the company's annual (Form 10-K) filing with the Securities and Exchange Commission. Investor Contact:Scott W. Dudley Jr.314-342-0878 Scott.Dudley@SpireEnergy.com Media Contact:Jessica B. Willingham314-342-3300 Jessica.Willingham@SpireEnergy.com SOURCE Spire Inc.

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Frequently asked

Who acquired MOGAS Industries?

MOGAS Industries was acquired by Spire, based in Vienna. The deal was reported on May 25, 2023. At Spire Inc. (NYSE: SR), we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Spire is publicly traded (SPIR) and operates in Information Technology.

When did Spire acquire MOGAS Industries?

Spire's acquisition of MOGAS Industries was reported on May 25, 2023. Spire Inc. (NYSE: SR) today announced it has entered into an agreement to acquire MoGas Pipeline (MoGas), an interstate natural gas pipeline, and Omega Pipeline (Omega), a connected gas distribution system, from CorEnergy Infrastructure Trust, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does MOGAS Industries do?

MOGAS Industries is the most trusted severe service technology company offering severe service valves, surface engineering / coating, modular process units, and aftermarket support. It is privately held, operating in Manufacturing, and is based in Houston.

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