BLK · News · 20260902N

Florida Gas Stake Acquisition

BlackRock, Inc. · 2026-09-02 · Importance 65 · Surprise 60

An infrastructure fund managed by BlackRock agreed to acquire a 49% non-controlling interest in Chesapeake Utilities’ Florida natural gas pipeline business for $635 million. The transaction values the Florida business at approximately $1.2 billion. Chesapeake Utilities expects the deal to close in early 2027, subject to regulatory approvals, and plans to use the proceeds for capital expenditures and general corporate purposes.

Key facts

• Chesapeake Utilities sold a 49% non-controlling interest in its Florida natural gas pipeline business to an infrastructure fund managed by BlackRock for $635 million, valuing the Florida business at approximately $1.2 billion and expected to close in early 2027 subject to regulatory approvals. source