Proposed acquisition of El Paso Electric by Infrastructure Investments Fund receives Public Utility Commission approval
El Paso Electric Company (EPE) and the Infrastructure Investments Fund (IIF) announced on Jan. 16 that the Public Utility Commission of Texas (PUCT) approved the proposed acquisition of EPE by IIF as being in the public interest.
The companies expect the PUCT to issue a Final Order within the next few weeks.
“We are pleased with the PUCT’s decision and appreciate the support we received from the parties involved,” EPE and IIF said in a statement. “The PUCT’s approval is an important step towards completing IIF’s acquisition of EPE and realizing the benefits of this partnership for all of EPE’s stakeholders, including customers, employees, and communities. We look forward to continuing to work with the other regulators to complete this transaction in the first half of 2020.
The companies expect the proposed transaction to close in the first half of 2020, subject to the receipt of additional regulatory approvals and other customary closing conditions.