MoFo Advises Southwest Gas on $1.5 Billion MountainWest Sale and Separate Centuri Spin Off Determination

Morrison Foerster advised Southwest Gas Holdings, Inc. (NYSE: SWX) in connection with several strategic actions that were announced on December 15, 2022, including the $1.5 billion sale of MountainWest Pipelines Holding Company to Williams Companies (NYSE: WMB), and the decision to spin off Centuri Group Inc.

MountainWest, a wholly owned subsidiary of Southwest Gas, operates over 2,000 miles of natural gas pipeline providing transportation and underground storage services in the Rocky Mountain region. The MountainWest transaction is expected to close in 2023, subject to certain closing conditions.

Centuri, a wholly owned subsidiary of Southwest Gas, is a strategic infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. The separation will result in two independent publicly traded companies and is expected to drive value for all stakeholders and create a number of benefits for both Southwest Gas and Centuri. The Centuri spin off is expected to occur in approximately 12 months. 

The MoFo corporate team advising Southwest Gas on the sale of MountainWest was led by San Francisco corporate partner and global M&A co-chair Brandon C. Parris, partner Michael O’Bryan, of counsel Jeffrey Washenko, and associate Samantha Breaks.

Read more in Southwest Gas’ press release.