Southwest Gas Plans to Spin Off Subsidiary Icahn Wanted Sold
- Activist called on utility to sell Centuri construction unit
- Spinoff will sharpen Southwest’s focus on utility business
Carl Icahn
Photographer: Victor J. Blue/Bloomberg
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Southwest Gas Holdings Inc. plans to spin off a construction business that billionaire investor Carl Icahn has pushed the utility to sell.
The Las Vegas-based company’s board approved the plan to make the unit, Centuri Group Inc., a separate company, according to a statement Tuesday. It’s expected to occur within nine to 12 months.