Duke Energy stands to gain $2.48 billion in cash with the sale of its Piedmont Natural Gas Tennessee local distribution company business to Spire Inc., one of the nation’s largest publicly traded natural gas companies.

Duke Energy agreed to sell its Piedmont Natural Gas Tennessee local distribution company business to Spire for $2.48B in cash.

With an announced $2.5 billion move, Spire continues a decade-plus run of predominantly fueling its expansion by buying gas utilities in the South.