SteelRiver Completes Pennsylvania Gas Utility Purchase

Jan 04, 2010, 10:39 ET from SteelRiver Infrastructure Partners

PITTSBURGH, Jan. 4 /PRNewswire/ -- SteelRiver Infrastructure Partners announced today it will continue with the purchase of Peoples Natural Gas to PH Gas, a subsidiary of SteelRiver Infrastructure Fund North America, from Dominion Resources.

"SteelRiver is excited to begin the work with employees and stakeholders of Pennsylvania to strengthen the company and enhance service to our customers," said Chris Kinney, CEO of SteelRiver. "We appreciate the support of the Pennsylvania Utility Commission in approving this transaction and we are committed to investing in the company and communities it serves. Peoples will continue to meet the energy needs of the region now and in the future."

SteelRiver and Dominion announced the agreement to purchase Dominion Peoples of Pennsylvania in July 2008. On November 19, 2009 the Pennsylvania Public Utility Commission unanimously approved the acquisition of Dominion Peoples Natural Gas Company by SteelRiver. The Commission found that the sale was in the public interest and provided substantial benefits. The transaction is expected to close in February.

For more information, contact Sean Connolly at the Bravo Group at 717-525-3004 or at Connolly@thebravogroup.com.

SOURCE SteelRiver Infrastructure Partners