CenterPoint Energy to sell Vectren subsidiaries for $850M

Houston-based CenterPoint Energy Inc. (NYSE: CNP) will sell a pair of former Vectren Corp. subsidiaries to Atlanta-based PowerTeam Services LLC for $850 million in cash.

The deal is expected to be complete in the second quarter of 2020, according to a Feb. 3 press release. CenterPoint will use net proceeds to pay down debt.

“The sale is a key achievement in our ongoing strategic focus to strengthen our balance sheet and improve our business risk profile and earnings quality pursuant to increased…