Tag Archives: company

Williams, Williams Partners Selling Canadian Businesses to Inter Pipeline

Williams and Williams Partners agreed to sell the companies’ Canadian businesses to Inter Pipeline Ltd. for combined cash proceeds of $1.03 billion. Williams will waive $150 million of incentive distribution rights in the quarter following closing to simplify the of inter-company contracts. After taking into account this waiver, Williams Partners will receive net consideration of  about $817 million and Williams will receive net consideration of  about $209 million. At closing, in compliance with certain tax rules pertaining to a sale of Canadian assets by a foreign parent, 25% of the proceeds will be deposited with […]