CALGARY, Alberta—
Enstar parent company SEMCO Energy has been sold to Canada’s AltaGas, which has agreed to pay more than $1.1 billion to acquire natural gas businesses in Alaska and Michigan.AltaGas says the firms are a good fit with its own assets and part of a strategy of becoming a top North American energy infrastructure company.
The Calgary-based gas processor and pipeline operator said Wednesday it has agreed to buy SEMCO Energy of Port Huron, Michigan, from Continental Energy Systems LLC, another Michigan company.
SEMCO owns a regulated natural gas distribution company in Alaska through Enstar Natural Gas and part ownership of a gas storage terminal being built in Alaska. It also has gas distribution and storage businesses in Michigan.
Enstar is the largest natural gas distributor in Alaska, serving 132,000 mostly residential customers.
