NiSource said it closed the issuance of a 19.9% indirect equity interest in its NIPSCO subsidiary on December 31, 2023. Investor acquired a 19.9% equity interest in Holdings II in exchange for $2,161,940,000 in cash capital contributions to Holdings II.

1. 01

   NiSource said it closed the issuance of a 19.9% indirect equity interest in its NIPSCO subsidiary on December 31, 2023. Investor acquired a 19.9% equity interest in Holdings II in exchange for $2,161,940,000 in cash capital contributions to Holdings II.

2. 02

   The company said it holds a controlling indirect equity interest of 80.1% in NIPSCO after the closing, while Investor, an affiliate of Blackstone Infrastructure Partners, holds the remaining 19.9% indirect equity interest.

3. 03

   NiSource said that under the LLC Agreement, Investor will provide up to $250,000,000 in additional capital contributions over 3 years after the closing. It also said Investor will appoint 2 of the 7 Holdings II board seats and NiSource will appoint 5.

4. 04

   The company said the LLC Agreement allows Investor to appoint 2 Holdings II directors while Investor holds at least a 17.5% Percentage Interest, and that certain major Holdings II actions require Investor approval.

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Original filing

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