Sale Of New Jersey Utility With Retail Choice Closes
South Jersey Industries (SJI) announced the completion of its previously reported acquisition of New Jersey-based Elizabethtown Gas and Maryland-based Elkton Gas from a subsidiary of Southern Company Gas.
South Jersey Industries owns South Jersey Gas
With the close of the transaction, SJI becomes the second largest natural gas utility in New Jersey, with service to more than 681,000 customers, and the third largest local gas distribution company in the United States.
SJI paid $1.69 billion in cash for the Elizabethtown Business and $10 million in cash for the Elkton Business on July 1, 2018, plus an adjustment for the net working capital of the Elizabethtown Business and Elkton Business.