Blackstone

Protesters gathered outside a Public regulation Commission meeting on June 18 to submit public comment against the proposed acquistion of TXNM energy, the Public Service Company of New Mexico's parent company, by Blackstone infrastructure. Protesters said the controversial stock sale between the companies shows they don't respect New Mexico's laws, and they urged the PRC to reverse the sale and deny the acquisition application.

Regulators order $400M stock sale reversed and PNM/Blackstone to pay $300k in fines

Daniel Montaño

Opponents of the proposed Acquisition of PNM's parent company, TXNM Energy, by Blackstone infrastructure got a big win Thursday when the New Mexico Public regulation Commission voted to reverse a $400 million sale of stock in TXNM to Blackstone that occurred after the acquisition was announced. Regulators said the companies violated state law when they did not seek approval for the stock sale. The overall acquisition is scheduled for a hearing in August.

Protesters on Thursday outside the Public Service Company of New Mexico's headquarters hold giant fake checks, made out to PNM and Blackstone executives, detailing their golden parachute compensation guaranteed in the merger agreement between PNM's parent company and the private equity firm Blackstone Infrastructure.

Public Health New Mexico

People protest PNM and Blackstone while the companies defend a $400M stock sale in hearing

Daniel Montaño

State officials, lawyers and executives met in Santa Fe Thursday to discuss the legality of a $400 million stock sale involving the Public Service Company of New Mexico’s parent company and the private equity firm seeking to acquire it. Meanwhile in Albuquerque, about 100 people rallied in front of PNM’s headquarters to protest that very acquisition.

Protesters outside a NM Public Regulation Commission meeting February 17 at the University of New Mexico. The PRC was seeking public input on a controversial deal between private equity firm Blackstone Infrastructure and the Public Service Company of New Mexico's parent company, TXNM.

Public Health New Mexico

Let's Talk the PNM/Blackstone deal

Daniel Montaño, Florian Knowles

The New Mexico Public Regulation Commission will soon decide whether or not the private equity firm Blackstone Infrastructure will acquire PNM’s parent company. The proposed $11.5 billion acquisition of the Public Service Company of New Mexico has drawn fierce resistance. This week on Let’s Talk New Mexico we’re talking to the players at the center of the whole debate, and we’d love to hear from you! Email letstalk@kunm.org, leave a voice message by clicking the link below, or call in live at (505) 277-5866 Thursday morning at 9.