NEW YORK ( The Deal) -- Spectra Energy Partners LP (SEP - Get Report) of Houston said Tuesday, Aug. 6, it agreed to buy U.S. natural gas transmission, storage and liquids assets from affiliate Spectra Energy Corp. (SE - Get Report), also of Houston, for $12.3 billion, making Spectra Energy Partners one of the country's top pipeline and storage master limited partnerships.The price includes $2.2 billion in cash and 172 million in newly issued limited partner units and 3.5 million in newly issued general partner units worth $7.6 billion based on Spectra Energy Partners' unit price yesterday. Spectra Energy Partners also will assume about $2.5 billion of acquired asset debt.
The Deal: Spectra Energy Sells $12.3B in Pipeline Assets to LP
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.