Business Services Industry
Merrillville, Ind.-Based Energy Firm Readies Assets for Major Acquisition.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, May, 2000 by LeDuc, Doug
May 9--FORT WAYNE, Ind.--NiSource plans to reduce the amount of debt required for its acquisition of Columbia Energy Group by selling $1 billion in non-core business.
In a presentation to a group of securities analysts in New York last month, Gary Neale, chief executive officer for the company, said NiSource and Columbia would make fairly similar contributions to the amount raised.
Merrillville-based NiSource owns Northern Indiana Public Service Co., which supplies northeast Indiana with natural gas. NiSource and Herndon, Va.-based Columbia reached a merger agreement in February and plan to complete it this year.
Neale told analysts NiSource had estimated it could have up to $500,000 in business sold by the end of the year to help fund the...
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