New Mexico Gas Company seeks state approval for sale to Bernhard Capital Partners

NEW MEXICO (KRQE) – New Mexico Gas Company is officially asking for the state’s permission to be sold. The utility’s parent company announced in August it’s intent to sell New Mexico Gas Company to Bernhard Capital Partners.

The deal is worth $1.25 billion with Bernhard Capital paying $700 million in cash and assuming around $550 million in debt. New Mexico Gas Company submitted its application for the sale to the New Mexico Public Regulation Commission. If approved, the utility said all current employees at the time of closing will retain their jobs.

For the latest news, weather, sports, and streaming video, head to KRQE NEWS 13 - Breaking News, Albuquerque News, New Mexico News, Weather, and Videos.