Williams Spins Off Pipes Into New MLP

摘要

Williams Tuesday announced a major restructuring in which it will spin off its natural gas pipeline and processing businesses into a tax-advantaged master limited partnership that will hand back some $3.5 billion in cash to Williams so the parent company can pay down debt and pursue its exploration and production operations.rnAnalysts said the restructuring, valued at approximately $12 billion, would create one of the largest master limited partnerships (MLP) in the nation and possibly spur other integrated natural gas giants to rethink their existing corporate structures.