RAPID CITY, S.D. — South Dakota-based Black Hills Corp. says it has completed its purchase of Golden-based SourceGas Holdings.
Utility commissions in those states approved the deal for about $1.9 billion, including Black Hills Corp.’s assumption of $760 million of debt.
SourceGas serves all or parts of eight counties in Northeastern Colorado and all or parts of 11 Western Slope counties, including the communities of Telluride, Aspen and Glenwood Springs.
It operates four gas utilities with about 425,000 customers and a 512-mile transmission pipeline in Colorado. The combined company will have more than 1.2 million utility customers.
The sale was announced in July, when the Rapid City-based energy company said it would acquire SourceGas from investment funds managed by General Electric Co. and Alinda Capital Partners LLC.
Black Hills Corp. serves 792,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.
Bloomberg News contributed to this report.
