ConocoPhillips Plans to Sell Its Stakes in Two U.S. Oil Pipeline Operators
11/22/11
ConocoPhillips Plans To Sell Its Stakes In Two U.S. Oil Pipeline Operators
To increase capital and perk up shareholder value, ConocoPhillips plans to sell its stakes in two U.S. oil pipeline operators for $2 billion deal. The firm has agreed to sell its 50 percent interest in the Seaway Crude Pipeline Company to Houston-based Enbridge Holdings for $1.15 billion. Wachtell, Lipton, Rosen & Katz
is advising ConocoPhillips on the matter of its refining business to shareholders. Morgan, Lewis & Bockius will advise the firm on the Enbridge sale. Enbridge has turned to Fulbright & Jaworski team for the matter.
ConocoPhillips Plans To Sell Its Stakes In Two U.S. Oil Pipeline Operators
To increase capital and perk up shareholder value, ConocoPhillips plans to sell its stakes in two U.S. oil pipeline operators for $2 billion deal. The firm has agreed to sell its 50 percent interest in the Seaway Crude Pipeline Company to Houston-based Enbridge Holdings for $1.15 billion. Wachtell, Lipton, Rosen & Katz
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