Tagged: New England Gas Co.

St. Louis-based Laclede Group Inc. will buy two of Houston-based Southern Union Co.'s utilities, Missouri Gas Energy and New England Gas Co., for $1.02 billion.

Energy Transfer Equity's takeover of pipeline operator Southern Union Co closed early this year.

The deal announced Monday also includes the assumption of about $20 million in debt, so the companies value it at nearly $1.04 billion.

Laclede, a utility holding company, expects the deal to close next summer, and start to boost earnings a year after that.