CLEVELAND--(BUSINESS WIRE)--Aug. 2, 2017--
Natural Inc. (NYSE American: EGAS) (the “Company”), announced
today that it has received the final regulatory approval required to
complete the acquisition of its common stock for $13.10 by a fund
managed by BlackRock Real Assets’ Global Energy & Power Infrastructure
group. The proposed transaction was initially announced in October 2016
by First Reserve Energy Infrastructure Funds, which BlackRock Real
Assets acquired in June 2017, and is now expected to close on Friday,
August 4, 2017. The Company plans to announce the closing of the
transaction when completed.
In conjunction with the planned closing, the Company’s Board of
Directors has declared a special cash dividend of $0.028 per share to
shareholders of record as of August 3, 2017, the business day prior to
the expected closing date of the Company’s merger with affiliates of
BlackRock, Inc. The dividend represents an amount equal to $0.0008152
per share for each day elapsed from and including July 1, 2017 and
ending on August 3, 2017, the day prior to the expected closing in
accordance with the agreement and plan of merger. The dividend will be
payable on or about August 17, 2017. Gas Natural has approximately 10.5
million shares of its common stock outstanding.
About Gas Natural Inc.
Gas Natural Inc., a holding company, distributes and sells natural gas
to residential, commercial, and industrial customers. It distributes
approximately 21 billion cubic feet of natural gas to roughly 70,000
customers through regulated utilities operating in Montana, Ohio, Maine
and North Carolina. The Company’s other operations include intrastate
pipeline, natural gas production, and natural gas marketing. The
Company's Montana public utility was originally incorporated in 1909.
Its strategy for growth is to expand throughput in its markets, while
looking for acquisitions that are either adjacent to its existing
utilities or in under-served markets. Further information is available
on the Company’s website at www.egas.net.
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Source: Gas Natural Inc.
Gas Natural Inc.
James E. Sprague, 216-202-1564
Kei Advisors LLC
Deborah K. Pawlowski,
L. Howard, 716-843-3942