DTE Energy to Spin Off DTE Midstream Business

摘要

DTE Energy announced October 27, that it is planning to spin-off DTE Midstream, which is a non-utility natural gas pipeline, storage and gathering business. The spin-off would result in DTE Midstream becoming an independent, publicly-traded company. The spin-off plan calls for DTE Energy shareholders to retain their current shares of DTE Energy stock and receive a pro-rata dividend of shares of DTE Midstream stock. The transaction is expected to be tax- free to DTE Energy and its shareholders for federal income tax purposes.