EL PASO, Texas (KTSM) – The sale of El Paso Electric is one step closer after getting approval from the Public Utility Commission of Texas on Thursday.
Infrastructure Investment Fund is in the process of buying El Paso Electric and needed the commission to approve the acquisition before the sale could continue.
“We are pleased with the PUCT’s decision and appreciate the support we received from the parties involved,” read a joint statement from Infrastructure Investment Fund and El Paso Electric. “The PUCT’s approval is an important step towards completing IIF’s acquisition of EPE and realizing the benefits of this partnership for all of EPE’s stakeholders, including customers, employees and communities. We look forward to continuing to work with the other regulators to complete this transaction in the first half of 2020.”