Consolidated Edison, Inc.

NYSE:ED   3:59:48 PM EDT
77.75
+0.52 (+0.67%)
Debt Financing / Related, Divestitures / Spin-offs

Crestwood Equity Partners Says Co. Con Edison's Units To Divest Stagecoach Gas Services Llc To A Unit Of Kinder Morgan For $1.225 Billion

Published: 06/01/2021 13:25 GMT
Consolidated Edison, Inc. (ED) - Crestwood Equity Partners - Co. Con Edison's Units to Divest Stagecoach Gas Services Llc to a Unit of Kinder Morgan for $1.225 Billion.
Crestwood Equity Partners Lp - Cash Proceeds From Divestiture Will Be Split Pro Rata Between Co and Con Edison in Line With Their 50% Ownership in Jv.
Crestwood Equity Partners Lp - Intends to Use Net Proceeds to Repay Outstanding Borrowings Under Revolving Credit Facility.
Crestwood Equity Partners - Intends to Opportunistically Utilize Free Cash Flow After Distributions for Common, Preferred Equity Buy-back Program.