EL PASO, Texas & NEW YORK--(BUSINESS WIRE)--El Paso Electric Company (EPE) (NYSE: EE) and The Infrastructure Investments Fund (IIF) today announced that the New Mexico Public Regulation Commission (NMPRC) approved IIF’s proposed acquisition of EPE.

EPE and IIF issued the following statement:

We are pleased that the NMPRC approved the unopposed stipulation and the Hearing Examiner’s modifications. The parties worked collaboratively to reach a mutual understanding early in the process. Today’s unanimous approval by the NMPRC confirms the significant value the proposed acquisition will provide to our customers, employees and communities.

As previously announced, the proposed transaction is expected to close in the first half of 2020, with one remaining regulatory approval needed from the Federal Energy Regulatory Commission.

About El Paso Electric

El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 433,000 retail and wholesale customers in a 10,000 square mile area of the Rio Grande valley in west Texas and southern New Mexico.

About The Infrastructure Investments Fund

The Infrastructure Investments Fund (IIF) is a $12.5 billion private investment vehicle advised by a dedicated infrastructure investment group within J.P. Morgan Investment Management Inc. IIF is responsible for investing and growing the retirement funds of more than 40 million families, including 2 million people across Texas and New Mexico who will be invested in El Paso Electric.