Atmos Energy Corporation today announced that it has executed a definitive agreement to sell substantially all of its natural gas distribution assets located in Georgia to Liberty Energy (Georgia) Corp., an affiliate of Algonquin Power & Utilities Corp. The transaction will include the transfer of approximately 64,000 meters at an all cash price of approximately $141 million, with the agreement containing usual terms and conditions customary for transactions of this type, including typical adjustments to the purchase price, if applicable.

“We have worked with Algonquin over the last year to transition our Missouri, Illinois and Iowa operations and are pleased to be able to consummate another asset sale with such a fine company. We know that Algonquin shares our focus on safety, reliability and providing excellent customer service to our Georgia customers,” said Kim R. Cocklin, President and Chief Executive Officer of Atmos Energy Corporation.

The sale is expected to close during fiscal 2013, after the receipt of all necessary regulatory approvals. These predominantly residential and commercial meters represent less than two percent of Atmos Energy’s three million natural gas customers. The proceeds from this transaction will be redeployed to fund growth opportunities in the remaining jurisdictions the company serves. Upon closing this transaction, Atmos Energy will reduce the number of states in which it operates from nine to eight, with approximately 80 percent of its utility operations in the three states of Texas, Louisiana and Mississippi.