Infrastructure Investments Fund To Acquire El Paso Electric - Quick Facts

(RTTNews) - El Paso Electric Company (EE) said the company will be acquired by Infrastructure Investments Fund, an investment vehicle advised by J.P. Morgan Investment Management Inc. IIF will buy El Paso for $68.25 per share, representing an enterprise value of approximately $4.3 billion including El Paso Electric's net debt. El Paso will continue as an independently-operated, regulated utility. The acquisition is expected to close in the first half of 2020.

"As we look to the future and the long-term investment required to meet the growing energy needs of our communities, we are confident IIF is the ideal partner for our region and EPE" said Mary Kipp, CEO of El Paso Electric.