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,...
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