HAMPTON, N.H. | Unitil Corp. has completed the purchase of two New England-based subsidiaries of NiSource Inc. in a deal valued at more than $200 million that was first announced in February.

Unitil said Monday it purchased Northern Utilities Inc. and Granite State Gas Transmission Inc. for $160 million plus $41.6 million for working capital. Most of that covers natural gas storage inventory.

The deal received the approval of state regulators in Maine, New Hampshire and Massachusetts by November. Merrillville, Ind.-based NiSource had purchased the companies in 1999.

The sale lets NiSource focus more on its long-term growth plan.

NiSource is the parent company of the Northern Indiana Public Service Co., which has more than 700,000 customers in northern Indiana. NiSource provides natural gas, electricity and water to the public for residential, commercial and industrial use.

The 81 employees of Northern and Granite will work for Unitil, and the companies' 52,000 natural gas customers also will switch over. Unitil now serves about 167,000 customers in Massachusetts, Maine and New Hampshire.

The utility company expects to close on a previously committed long-term debt financing of $90 million this month and will raise more capital by issuing stock.

Unitil shares fell 16 cents, or about 1 percent, to $23.82 in afternoon trading Monday.