DTE Energy Sells DTE Vantage Subsidiary to J.P. Morgan Asset Management for $2.97B
· The NYC Memo
DTE Energy entered into a Purchase and Sale Agreement on November 1, 2026, to sell all equity interests in DTE Energy Resources LLC (d/b/a DTE Vantage) to Velocity BidCo LLC, an entity owned by institutional investors advised by J.P. Morgan Asset Management's Global Infrastructure group, for a base purchase price of $2,970,672,573.
DTE Vantage encompasses renewable energy projects, pipeline-quality gas projects, and custom energy solutions serving industrial, commercial, and institutional customers. The DTE board unanimously approved the transaction on October 30, 2026; closing is expected in mid-2027, pending HSR, FERC Section 203, Canadian Competition Act, and New York Public Service Law Section 70 approvals, with a buyer termination fee of approximately $148,533,629 under specified circumstances.