TULSA, Okla., Aug. 31 /PRNewswire-FirstCall/ -- Williams
Pipeline Partners L.P. (NYSE: WMZ) and Williams Partners L.P.
(NYSE: WPZ) announced today that the WMZ unitholders have approved
the proposed merger between the two master limited partnerships and
the merger has been completed.
The approval was granted today at a special meeting of the
Williams Pipeline Partners limited partners. A majority of
the outstanding WMZ common units, other than WMZ common units held
by Williams Partners and its affiliates, voted in favor of the
approval and adoption of the merger agreement and the merger.
The outstanding subordinated units of WMZ, which are all owned by
the general partner of Williams Pipeline Partners, also voted in
favor of the merger.
The merger became effective following the special meeting.
As a result, WMZ unitholders will receive 0.7584 WPZ common
units for each WMZ common unit they owned at the effective time of
the merger. Also as a result of the merger, all currently
outstanding WMZ common units and WMZ subordinated units have been
extinguished, and Williams Pipeline Partners has become indirectly
wholly owned by Williams Partners.
Williams Partners' common units will continue to be traded on
the New York Stock Exchange under the ticker symbol WPZ.
Williams Pipeline Partners' common units, which had been
trading on the NYSE under the ticker symbol WMZ, will be delisted
and no longer publicly traded.
Williams Partners and Williams Pipeline Partners announced the
execution of the merger agreement on May
24.
About Williams Partners L.P. (NYSE: WPZ)
Williams Partners L.P. is a leading diversified master limited
partnership focused on natural gas transportation; gathering,
treating, and processing; storage; natural gas liquid (NGL)
fractionation; and oil transportation. The partnership owns
interests in three major interstate natural gas pipelines that,
combined, deliver 12 percent of the natural gas consumed in
the United States. The
partnership's gathering and processing assets include large-scale
operations in the U.S. Rocky Mountains and both onshore and
offshore along the Gulf of Mexico.
Williams (NYSE: WMB) owns approximately 80 percent of Williams
Partners, including the general-partner interest. More information
is available at www.williamslp.com. Go to
http://www.b2i.us/irpass.asp?BzID=1296&to=ea&s=0 to join
our email list.
About Williams Pipeline Partners L.P. (NYSE: WMZ)
Williams Pipeline Partners is a publicly traded master limited
partnership that owns and operates natural gas transportation and
storage assets. The general partner of Williams Pipeline Partners
is Williams Pipeline GP LLC, which is a wholly owned subsidiary of
Williams Partners L.P. (NYSE: WPZ). For more information, please
visit www.williamspipelinepartners.com. Go to
http://www.b2i.us/irpass.asp?BzID=1589&to=ea&s=0 to join
our e-mail list.
Portions of this document may constitute "forward-looking
statements" as defined by federal law. Although the partnerships
believe any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially
different. Any such statements are made in reliance on the "safe
harbor" protections provided under the Private Securities Reform
Act of 1995. Additional information about issues that could lead to
material changes in performance is contained in the partnerships'
annual reports filed with the Securities and Exchange
Commission.
MEDIA CONTACT:
Jeff Pounds
(918) 573-3332
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INVESTOR CONTACT:
Sharna Reingold
(918) 573-2078
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SOURCE Williams Partners L.P.; Williams Pipeline Partners
L.P.
Copyright . 31 PR Newswire