Blackstone’s infrastructure investing arm is reportedly in talks to acquire TXNM Energy, a utility company focused on New Mexico and Texas. Discussions between Blackstone Infrastructure Partners and TXNM are ongoing, with no guarantee of a deal being finalized. The potential agreement was first reported by Bloomberg News, citing sources familiar with the matter.
TXNM Energy, based in Albuquerque, serves 800,000 homes and businesses in the two states. Previously known as PNM Resources, the company had agreed to a sale to Avangrid in 2020. However, regulatory hurdles led to the termination of the deal more than three years later.
While TXNM has not commented on the recent acquisition talks, Blackstone has declined to provide a statement. The situation remains fluid, and negotiations are confidential at this time.
If the deal goes through, it could have significant implications for the energy sector in the region. Stay tuned for further updates on this developing story.
This article was reported by David French in New York and edited by Nia Williams.
