V&E Reps Spectra Energy In $11B Drop-Down Sale To MLP

Law360, Houston (August 6, 2013, 3:33 PM EDT) -- Spectra Energy Corp. has inked an $11 billion deal to transfer its U.S. storage and transmission portfolio to Spectra Energy Partners, creating one of the largest fee-based master limited partnerships in the country, the company announced Tuesday.

Spectra Energy CEO Greg Ebel said in a statement Tuesday that the company made the decision to advance its MLP strategy to help fund a major capital expansion program targeting $25 billion in growth opportunities through the end of the decade. This year alone, Houston-based Spectra Energy has secured...
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