A major acquisition totaling $11.5 billion has been announced involving the New Mexico sister-company of Public Service Company of Oklahoma.
TXNM Energy Inc, parent company of Public Service Company of New Mexico, announced Monday it agreed to be acquired by investment firm Blackstone Inc. Public Service Company of New Mexico serves about 550,000 customers and the decision was unanimous by board members at TXNM Energy.
“We are excited to form this long‐term partnership with Blackstone Infrastructure to build upon these successes. We will continue to collaborate with customers, communities, legislators and regulators to achieve our shared goals for a reliable, resilient grid to support economic prosperity and clean energy,” TXNM Chair and CEO Pat Collawn said in a statement.
The Albuquerque Journal reported it’s not a done deal because approval by various regulators must be made. Approvals must also come from the Public Utility Commission of Texas, the Federal Energy Regulatory Commission, the Department of Justice, the Nuclear Regulatory Commission and the Federal Communications Commission.
Click here for Albuquerque Journal
