Blackstone Infrastructure Partners Acquires Minority Interest in Indiana Utilities Company in $2.15 Billion Deal

Paul, Weiss advised Blackstone Infrastructure Partners in the $2.15 billion acquisition of a 19.9% equity interest in NiSource subsidiary Northern Indiana Public Service Company LLC (NIPSCO). NIPSCO is Indiana’s largest vertically-integrated electric and gas distribution company, providing critical utility service to almost 1.3 million customers. Under the transaction, Blackstone Infrastructure Partners will support NIPSCO’s energy transition and decarbonization programs, and help to increase gas and electric grid resiliency for its customers.

The Paul, Weiss team was led by corporate partner Ravi Purohit and counsel Michael Spirtos.