EL PASO, Texas & NEW YORK--(BUSINESS WIRE)--El Paso Electric Company (EPE) (NYSE: EE) and the Infrastructure Investments Fund (IIF) today announced that they have mutually agreed to extend the termination date for the transaction under the terms of the previously announced Agreement and Plan of Merger to September 1, 2020.

As previously announced, the proposed acquisition is pending final approval from the Federal Energy Regulatory Commission (FERC). On April 15, 2020, EPE and IIF filed proposed mitigation options with the FERC as requested by the FERC in its March 30, 2020 order conditionally approving the proposed acquisition. The FERC’s approval of the parties’ mitigation plan is the last regulatory approval needed to close the proposed acquisition. EPE and IIF continue to expect to close the transaction in the first half of 2020.

About El Paso Electric

El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 435,000 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.