Indiana Energy, Inc. said yesterday that a special meeting ofcommon shareholders would be held on December 17 at its corporateheadquarters in Indianapolis, IN, to consider the previously announcedmerger with SIGCORP Inc. The merger would create a new $1.9 billionholding company called Vectren (see Daily GPI, June 15). Through its utility subsidiaries,Vectren will offer gas and electricity to more than 650,000 customersin adjoining service areas that cover nearly two-thirds ofIndiana. Vectren’s non-regulated subsidiaries will offerenergy-related products and services, including: energy marketing;performance contracting and coal mining; fiber-optic basedtelecommunications services; locating, trenching and meter readingservices; and materials management to customers throughout thesurrounding region. Under the merger agreement, Indiana Energyshareholders will receive one share of Vectren’s common stock for eachshare of Indiana Energy stock. SIGCORP shareholders will receive 1.333shares of Vectren’s common stock for each share of SIGCORP stock.
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Two Company Offices on the Move
CMS Energy Corp. dedicated its new headquarters building for CMSPanhandle Pipe Line Companies at 5444 Westheimer in Houston. About300 employees are moving to the new location.
CMS Changes Name of E&P Arm
CMS Energy Corp. changed the name of its oil and gas explorationand production business to CMS Oil and Gas Co. “Last year we movedto our headquarters in Houston, TX, and the original focus of ourbusiness has broadened from its origins in northern Michigan toinclude exploration and production projects around the world,” saidBradley W. Fischer, CEO of CMS Oil and Gas Co., formerly known asCMS NOMECO Oil & Gas Co.
Sempra Focuses on Multi-Fuel Marketing
From its new corporate headquarters in San Diego, officials ofthe newly merged $6.2 billion Sempra Energy yesterday stronglypromoted their goal of expanding both utility and nonutilitybusinesses throughout the U.S. in the next 10 years as energyrestructuring spreads from state to state. It plans both highprofile marketing/branding and political campaigns to further itsgoal of being “one of the top five energy services companies inNorth America.”
