South Jersey Industries (SJI), who operates South Jersey Gas, is being acquired by the Infrastructure Investments Fund after the deal received approval by the State Board of Public Utilities on Wednesday. SJI announced an agreement worth $8 billion last February pending BPU approval. Under terms of the approval, SJI has committed to $75 million in financial benefits for Elizabethtown Gas and South Jersey Gas customers including a rate credit to all customers and bill relief for certain accounts in arrears due to the COVID-19 pandemic, plus $5 million in community support contributions and $2.5 million in contributions to NJ SHARES, to assist New Jersey’s low-income customers with utility bills, according to an SJI press release. The transaction is expect to occur on February 1. As a result , shares of SJI common stock, will be de-listed for trading on the New York Stock Exchange.
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