CenterPoint Energy (CNP) said Tuesday it completed the sale of its natural gas distribution utilities in Louisiana and Mississippi to affiliates of Bernhard Capital Partners.

The utility company previously said in February 2024 it was selling the businesses to the private equity firm for $1.2 billion.

The company said the assets include about 12,000 miles of pipeline serving around 380,000 metered customers in the two states.

CenterPoint said the transaction received all necessary regulatory approvals, including antitrust clearance and approval from the Louisiana and Mississippi Public Service Commissions.

The company also said that New Orleans-based Delta Utilities will immediately take over responsibility for its former customers in both states.