8-K - Duke Energy Corporation | StockGist

AI Analysis

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Duke Energy's subsidiary Piedmont completed the sale of its Tennessee natural gas business to Spire Tennessee Inc. for $2.48 billion in cash on March 31, 2026.

Key Takeaways

1Piedmont sold its Tennessee natural gas local distribution business to Spire Tennessee Inc. for $2.48 billion cash, subject to customary adjustments.

2Transaction closed on March 31, 2026, pursuant to Asset Purchase Agreement dated July 27, 2025.

3Approximately $800 million of proceeds used to repay Piedmont debt; remaining $1.5 billion net of tax to fund regulated capital plan.

4Pro forma net income for Piedmont year ended December 31, 2025, shows $887 million after giving effect to transaction.

5Sale includes nearly 3,800 miles of pipelines serving over 200,000 customers in Greater Nashville area.

6Piedmont employees supporting Tennessee business transitioned to Spire.

Current Report Details

Event Type

Asset Acquisition

Regulation Fd

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

2.01

by reference. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text

Asset Acquisition

7.01

(including Exhibit 99.2) is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchan

Regulation Fd

9.01

Financial Statements and Exhibits.** (b) Pro forma financial information. The following unaudited pro forma financial information of Piedmont, after giving effe

Exhibits Only

Source Document

Transaction Details

Acquisition / Disposition

Target: Tennessee natural gas local distribution company business
Consideration: $2.48 billion in cash, subject to customary purchase price adjustments
Structure: Asset sale pursuant to Purchase Agreement

•Agreement dated July 27, 2025
•Completed March 31, 2026

Exhibits (3)

8-K

FORM 8-K

99.1

EXHIBIT 99.1

99.2

EXHIBIT 99.2