Boardwalk Pipeline Partners (BWP) Acquires Remaining Interest in Boardwalk HP Storage Co. for $285 Million
Tweet
Share
E-mailGet Alerts BWP Hot Sheet
Join SI Premium – FREE
Boardwalk Pipeline Partners, LP (NYSE: BWP) announced that a subsidiary has purchased the remaining 80% equity interest in Boardwalk HP Storage Company, LLC from Boardwalk Pipelines Holding Corp. (BPHC), a wholly-owned subsidiary of Loews Corporation (NYSE: L) and the parent of our general partner, for approximately $285 million, which is the same price paid by BPHC when it acquired this interest in December 2011.
This transaction was approved by the independent Conflicts Committee of the Board of Directors. "Acquiring the remaining ownership interest in Boardwalk HP Storage was one of our key goals for 2012,” said Stan Horton, President and CEO of Boardwalk. "Boardwalk has been operating these assets since they were acquired in December 2011 and the transition has gone extremely well.”
This transaction was approved by the independent Conflicts Committee of the Board of Directors. "Acquiring the remaining ownership interest in Boardwalk HP Storage was one of our key goals for 2012,” said Stan Horton, President and CEO of Boardwalk. "Boardwalk has been operating these assets since they were acquired in December 2011 and the transition has gone extremely well.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley CEO: investment banking momentum is building - Conference Call
- Turnstone Biologics Corp (TSBX) Announces Resignation of Patrick Machado from Board
- AMD (AMD) Expands Commercial AI PC Portfolio
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
