Spire to acquire tennessee piedmont natural gas business from duke energy

St. louis , july 29, 2025 /prnewswire/ -- spire inc. (nyse: sr) today announced it has entered into an agreement with piedmont natural gas, a wholly-owned subsidiary of duke energy (nyse: duk), to acquire its tennessee local distribution company business that serves more than 200,000 customers in the nashville area. spire is acquiring the business for total consideration of $2.48 billion on a cash-free, debt-free basis, representing a purchase price multiple of 1.5x estimated rate base in 2026.
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