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Slide #19. Gas Natural Inc. — John D. Oil and Gas Marketing Company
Gas Natural Inc. (EGAS)
John D. Oil and Gas Marketing Company
Gas Natural Inc. (NYSE MKT: EGAS) ("Gas Natural" or the "Company"), a holding company operating local distributing companies serving approximately 73,000 customers in seven states, announced today that it completed the acquisition for John D. Oil and Gas Marketing Company, LLC, ("John D. Marketing") for $2.9 million, paid by the issuance of 256,926 shares of Gas Natural's common stock at a price of $11.19 per share. The purchase agreement provides for contingent earn out payments of additional common stock based on the achievement of certain financial milestones by John D. Marketing for a period of five years after the closing of the transaction.
Gas Natural is a holding company. Through its subsidiaries, Co. is a natural gas company, primarily operating local distribution companies in four states and serving approximately 69,400 customers at Dec 31 2016. Co.'s primary business segments are: Natural Gas, which distributes natural gas through regulated utilities operating in Maine, Montana, North Carolina and Ohio; Marketing and Production, which market natural gas to commercial and industrial customers in Montana, Wyoming and Ohio; and Corporate and Other, which includes the activity from Lone Wolfe Insurance, LLC that serves as an insurance agent for Co. and other businesses in the energy industry.
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Hold (1.50 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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