EQT Corp. To Net $720M In Sale Of Utility Arm To Peoples

Law360, Philadelphia (December 20, 2012, 6:51 PM EST) -- EQT Corp. announced Thursday it was selling its subsidiary natural gas utility, Equitable Gas Co. LLC, to rival Peoples Natural Gas for $720 million in cash plus approximately 200 miles worth of transmission pipelines used to transport gas extracted from Pennsylvania’s Marcellus Shale.

Pending approvals from state and federal regulations, the deal would see the combination of two of the Pittsburgh area’s three largest gas utilities while allowing EQT to refocus on its gas production and midstream businesses.

"Today’s announcement allows us to focus on and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.