Chesapeake Eyes Pipeline Sale for More Than $4 Billion

Date : 06/05/2012 @ 9:00PM
Source : Dow Jones News
Stock : Chesapeake Energy Corp. (CHK)
Quote : 4.85  0.19 (4.08%) @ 7:34PM

Chesapeake Eyes Pipeline Sale for More Than $4 Billion

Chesapeake (NYSE:CHK)
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Chesapeake Energy Corp. (CHK) is in advanced talks to sell all of its interests in Chesapeake Midstream Partners LP (CHKM) and other pipeline assets to Global Infrastructure Partners, Bloomberg News reported on its website Wednesday, citing two people with knowledge of the matter.

The talks could lead to a deal within days, but could also fall apart, Bloomberg reported the people as saying. If successful, the transactions could raise more than $4 billion, they said.

Michael Kehs, a spokesman for Chesapeake, declined to comment, while a spokesman for GIP didn't immediately return a call, Bloomberg said.

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