Pipeline operator, Williams Partners, will purchase an additional 24.5% interest in the Gulfstream interstate gas pipeline system from Williams. Williams Partners will pay a total of $330 million, including $297 million in cash and $33 million in Williams Partners’ limited-partner and general-partner units, for the stake. The pipeline operator will fund the cash portion of the acquisition with its revolving credit facility. With the acquisition Williams Partners’ ownership interest in Gulfstream has increased to 49%, while Spectra Energy and its units own the remaining stake, adds Reuters.
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