NorthWestern Corporation to Effectuate Holding Company Reorganization on October 2, 2023
September 29, 2023 at 01:00 pm EDT
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NorthWestern Corporation d/b/a NorthWestern Energy announced that it intends to effectuate its previously announced holding company reorganization. Effective October 2, 2023, NorthWestern Energy Group Inc. will become the parent holding company of NorthWestern Corporation, which owns and operates the Montana, South Dakota and Nebraska regulated utility businesses. In early 2024, NorthWestern intends to complete the second and final phase of the reorganization which will result in the South Dakota and Nebraska regulated utilities business becoming a separate direct subsidiary of NorthWestern Energy Group Inc. Intended to be a tax-free transaction for U.S. federal income tax purposes, current NorthWestern Corporation stockholders will automatically become stockholders of the new NorthWestern Energy Group Inc. Each outstanding share of common stock of NorthWestern Corporation will automatically convert on a one-for-one basis into an equivalent corresponding share of common stock of NorthWestern Energy Group Inc. There will be no change in outstanding shares or ownership percentages as a result of the reorganization and the NWE ticker symbol will remain unchanged.
NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, provides essential energy infrastructure and valuable services. The Company operates through two segments: electric utility operations and natural gas utility operations. The electric utility operations segment includes the generation, purchase, transmission and distribution of electricity. The natural gas utility operations segment includes the production, purchase, transmission, storage, and distribution of natural gas. It provides electricity and / or natural gas to approximately 775,300 customers in Montana, South Dakota, Nebraska, and Yellowstone National Park. Its operations in Montana and Yellowstone National Park are conducted through its subsidiary, NorthWestern Corporation, and its operations in South Dakota and Nebraska are conducted through its subsidiary, NorthWestern Energy Public Service Corporation. Its customer base consists of a mix of residential, commercial, and diversified industrial customers.
NORTHWESTERN ENERGY GROUP, INC. 
