The shares of NiSource Inc. Ni, +0.15% increased 0.4% to a new high of one month in premarket trade on Tuesday after the Indiana-based utility announced an arrangement to sell 19,9% of Nipsco to Blackstone Inc. BX, -1.6% for a total of $2.15 billion. NiSource will use the proceeds of the sale to reduce debt and fund the capital requirements related to the transition to renewable energy. The transaction, which should close by the end the year, will give Nipsco an equity value between $10.8 and $10.8 billion. NiSource’s adjusted earnings-per share outlook is $1.54 to $1.6. NiSource’s shares have fallen 0.2% in the past year, while Blackstone shavings are up 22.8%. The S&P 500 is up 14.9%.