LOOKS LIKE NEW MEXICO GAS COMPANY IS GETTING A NEW OWNER. ALBUQUERQUE BUSINESS FIRST REPORTS THE COMPANY HAS ENTERED INTO AN AGREEMENT TO BE SOLD TO TECO ENERGY INK OF TAMPA FLORIDA. THE SALE WAS ANNOUNCED TUESDAY MORNING.
TECO ENERGY SAYS IT'LL ACQUIRE NEW MEXICO GAS COMPANY FROM ITS HOLDING COMPANY, CONTINENTAL ENERGY, FOR 950 MILLION DOLLARS. THAT INCLUDES 200 MILLION DOLLARS IN GAS COMPANY DEBTS.
THE SALE STILL HAS TO BE APPROVED BY STATE AND FEDERAL REGULATORS.
