
Emera Inc. (TSX/NYSE:EMA) today announced the transaction to sell New Mexico Gas Company (NMGC), a regulated natural gas utility headquartered in Albuquerque, New Mexico, to Bernhard Capital Partners has closed. The

<p xmlns="http://www.w3.org/1999/xhtml">
Emera Inc. (TSX/NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EMA">EMA</a>) today announced the transaction to sell New Mexico Gas Company (NMGC), a regulated natural gas utility headquartered in Albuquerque, New Mexico, to Bernhard Capital Partners has closed. The sale of NMGC was originally announced on August 5, 2024.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Emera Inc.</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Emera (TSX/NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EMA">EMA</a>) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.1 million customers in the United States, Canada and the Caribbean. Our team of 6,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange. Additional information can be accessed at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.emera.com&amp;esheet=54588103&amp;newsitemid=20260812685941&amp;lan=en-US&amp;anchor=www.emera.com&amp;index=1&amp;md5=9aa1074657cd608dcd7eee3d246835a0" shape="rect">www.emera.com</a>, on SEDAR+ at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedarplus.ca&amp;esheet=54588103&amp;newsitemid=20260812685941&amp;lan=en-US&amp;anchor=www.sedarplus.ca&amp;index=2&amp;md5=f6ffb149b49ddb881afebaff5128912e" shape="rect">www.sedarplus.ca</a> and on EDGAR at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54588103&amp;newsitemid=20260812685941&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=3&amp;md5=013d15310506dcb0b1222ef397b593dd" shape="rect">www.sec.gov</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260812685941r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260812685941/en/" rel="nofollow">https://www.businesswire.com/news/home/20260812685941/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor Relations 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Dave Bezanson, SVP, Capital Markets
<br xmlns="http://www.w3.org/1999/xhtml"></br>902-233-2674
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:dave.bezanson@emera.com" shape="rect">dave.bezanson@emera.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Emera Corporate Communications
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:media@emera.com" shape="rect">media@emera.com</a>

</p>

TSX:EMA

Emera Completes Sale of New Mexico Gas Company

Emera closes NMGC sale, strengthens balance sheet and capital allocation

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Emera Inc. (TSX/NYSE:EMA) today announced the transaction to sell New Mexico Gas Company (NMGC), a regulated natural gas utility headquartered in Albuquerque, New Mexico, to Bernhard Capital Partners has closed. The</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Emera has closed the sale of New Mexico Gas Company to Bernhard Capital Partners, following the August 5, 2024 agreement. The transaction removes NMGC from Emera’s regulated asset base, potentially improving liquidity and balance-sheet flexibility while reshaping the company’s earnings mix and capital-allocation options in the near term.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Emera closes NMGC sale to Bernhard Capital Partners.</li><li>Originally announced August 5, 2024.</li><li>NMGC is a regulated gas utility in Albuquerque.</li><li>Sale may boost Emera&#039;s balance sheet and liquidity.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Emera Inc. (EMA)</strong>: Sale of NMGC closes; reduces regulated asset base but improves balance-sheet flexibility.</li><li><strong>New Mexico Gas Company (NMGC)</strong>: Owned by Emera; being divested to Bernhard Capital Partners; regulated utility in Albuquerque.</li><li><strong>Bernhard Capital Partners (Private)</strong>: Buyer of NMGC; founder-led private equity; transaction completed.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>M&amp;A-driven corporate development; asset divestiture aligns with portfolio optimization and capital-allocation strategy.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>NMGC sale closure reduces Emera&#039;s regulated asset base.</li><li>Potential proceeds could support debt reduction or buybacks.</li><li>Near-term earnings impact remains uncertain without disclosed numbers.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Transaction closed: Emera sells New Mexico Gas Company (NMGC) to Bernhard Capital Partners.</li><li>Originally announced on August 5, 2024.</li><li>NMGC is a regulated natural gas utility headquartered in Albuquerque, NM.</li><li>Emera provides energy services to about 2.1 million customers in US, Canada, Caribbean.</li><li>Emera common and preferred shares trade on TSX; common on NYSE.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Neutral near-term; balance-sheet improvement could support capital allocation over 6–12 months.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Emera Inc. (TSX/NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EMA">EMA</a>) today announced the transaction to sell New Mexico Gas Company (NMGC), a regulated natural gas utility headquartered in Albuquerque, New Mexico, to Bernhard Capital Partners has closed. The sale of NMGC was originally announced on August 5, 2024.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Emera Inc.</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Emera (TSX/NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EMA">EMA</a>) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.1 million customers in the United States, Canada and the Caribbean. Our team of 6,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange. Additional information can be accessed at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.emera.com&amp;esheet=54588103&amp;newsitemid=20260812685941&amp;lan=en-US&amp;anchor=www.emera.com&amp;index=1&amp;md5=9aa1074657cd608dcd7eee3d246835a0" shape="rect">www.emera.com</a>, on SEDAR+ at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedarplus.ca&amp;esheet=54588103&amp;newsitemid=20260812685941&amp;lan=en-US&amp;anchor=www.sedarplus.ca&amp;index=2&amp;md5=f6ffb149b49ddb881afebaff5128912e" shape="rect">www.sedarplus.ca</a> and on EDGAR at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54588103&amp;newsitemid=20260812685941&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=3&amp;md5=013d15310506dcb0b1222ef397b593dd" shape="rect">www.sec.gov</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260812685941r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260812685941/en/" rel="nofollow">https://www.businesswire.com/news/home/20260812685941/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor Relations 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Dave Bezanson, SVP, Capital Markets
<br xmlns="http://www.w3.org/1999/xhtml"></br>902-233-2674
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:dave.bezanson@emera.com" shape="rect">dave.bezanson@emera.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Emera Corporate Communications
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:media@emera.com" shape="rect">media@emera.com</a>

</p>

Emera has closed the sale of New Mexico Gas Company to Bernhard Capital Partners, following the August 5, 2024 agreement. The transaction removes NMGC from Emera’s regulated asset base, potentially improving liquidity and balance-sheet flexibility while reshaping the company’s earnings mix and capital-allocation options in the near term.

News insight

Emera Completes Sale of New Mexico Gas Company

AI summary

Sentiment rationale

Key facts

M&A