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Sempra Energy Selling Two Subsidiaries in South

Sempra Energy on Tuesday said it was selling two utility subsidiaries in Alabama and Mississippi in a deal worth $400 million to The Laclede Group Inc., the holding company for a St. Louis-based utility.

Sempra is selling Mobile Gas Service Corp. and Wilmut Gas & Oil Co. for $323 million in cash. Laclede will assume $67 million worth of debt. Sempra said it expects to record a gain on the sale.

Sempra is technically selling Mobile and Wilmut’s parent company, EnergySouth Inc., but EnergySouth will only own Mobile and Wilmut by the time the deal closes. Sempra will retain other subsidiaries Bay Storage Co., Mississippi Hub LLC, Liberty Gas Storage and Southern Gas Transmission.

Sempra acquired EnergySouth in 2008 and Wilmut in 2012. Mobile and Wilmut supply about 100,000 customers overall.

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