Williams and Williams Partners have agreed to sell their Canadian oil pipeline and processing assets to Inter Pipeline for approximately $1 billion, the companies announced Monday. Williams will receive $209 million and Williams Partners will get $817 million from the deal, which is expected to close this year.
“We are proud of the tremendous businesses our Canadian team has built since we first began operating in Canada in 2002,” Williams CEO Alan Armstrong said in a statement. “This transaction represents significant progress on a major component of the 2016 capital and financing plan we announced in January.”
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