WASHINGTON (dpa-AFX) - CenterPoint Energy Inc. (CNP) agreed to sell Miller Pipeline and Minnesota Limited to PowerTeam Services LLC for $850 million in cash.
The company will use net proceeds of the sale to repay a portion of outstanding its debt. It expects to close the sale in the second quarter of 2020.
Doug Banning will continue to oversee Miller Pipeline and Minnesota as its chief executive officer.
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