August 8, 2016 / 8:47 PM / 2 years ago

REFILE-Williams Cos, Williams Partners to sell Canadian operations

(Corrects spelling of “master” in first paragraph)

Aug 8 (Reuters) - Pipeline company Williams Cos Inc and its master limited partnership said they agreed to sell their Canadian businesses to Inter Pipeline Ltd for total cash proceeds of C$1.35 billion ($1.03 billion).

Williams Partners LP will get a net consideration of about $817 million and Williams Cos will get about $209 million, after a waiver of $150 million of incentive distribution rights in the quarter, the two companies said.

Both companies plan to use the cash proceeds to reduce borrowings on credit facilities. ($1 = C$1.32) (Reporting by Arathy S Nair in Bengaluru; Editing by Savio D’Souza)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below