Chesapeake Discussing $4B Sale Of Midstream Pipelines

Law360, New York (June 6, 2012, 2:22 PM EDT) -- Oklahoma natural gas giant Chesapeake Energy Corp. is in negotiations to sell its midstream pipeline business for more than $4 billion to a Connecticut private equity firm backed by Credit Suisse AG and General Electric Co., a person familiar with the matter said Wednesday.

The financially beleaguered Chesapeake, facing a cash flow shortfall that could exceed $20 billion by next year due to low natural gas and oil prices, is in talks to sell its entire stake in Chesapeake Midstream Partners LP to Global Infrastructure Partners,...
To view the full article, register now.