Unitil to purchase Maine Natural Gas for $86 million

New England-based electricity and natural gas company Unitil has entered an agreement to purchase Maine Natural Gas from Avangrid for $86 Million. Preti Flaherty attorneys Todd Griset, Anthony Buxton, and Bonnie Martinolich represent Avangrid as lead counsel in this transaction.

Maine Natural Gas serves 6,300 residential and commercial customers in Portland-area communities, as well as in Augusta. Unitil operates in Maine, New Hampshire, and Massachusetts. With the acquisition of Maine Natural Gas from Avangrid, Unitil would serve 40% of natural gas customers in Maine. The transaction is expected to close by the end of the year, pending approval from the Maine Public Utilities Commission.

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