Southwest Gas Completes Strategic Overhaul with Centuri Spinoff

US energy provider Southwest Gas has finalized its strategic transformation, completing the full separation from its infrastructure subsidiary Centuri Group. This move significantly strengthens the company’s balance sheet and refocuses it exclusively on its natural gas utility operations.

The company’s strategic shift culminated on September 5 with the sale of 27.4 million Centuri shares at $19.60 per share. This transaction generated approximately $525 million in net proceeds, enabling Southwest Gas to completely exit its stake in Centuri. The divestiture allows the company to concentrate solely on its regulated natural gas distribution business.

Chief Executive Officer Karen Haller stated that the transaction enhances corporate transparency, simplifies the company’s operational narrative, and aligns Southwest Gas with long-term value creation in the utility... Read more...