New Hampshire-based Unitil Corp. closed its $201.6 million purchase of Northern Utilities Inc. and Granite State Gas Transmission Inc. from NiSource Inc. The deal was announced Feb. 19 (see Daily GPI, Feb. 20). A utility holding company with electric and natural gas distribution utilities spread around New England, Unitil absorbed 81 employees and 52,000 retail gas customers making up Northern and Granite’s distribution operations. Unitil’s utilities now employ 430 workers and serve about 167,000 customers in 71 cities and towns in Massachusetts, Maine and New Hampshire. The purchase price was $160 million, plus $41.6 million for working capital, including about $33.9 million of gas storage inventory. Unitil said there was no acquisition premium. Unitil said it expects to close soon on long-term debt financing of $90 million, and to raise additional capital through the issuance of common stock.

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