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Williams Partners signs agreement to purchase Williams’ Geismar cracker

10:16 AM MDT | November 1, 2012 | Robert Westervelt

Williams Partners has agreed to acquire Williams’ 83.3% stake in a cracker at Geismar, LA, as well as Williams’ refinery-grade propylene splitter for $2.3 billion. Williams Partners will also acquire pipelines in the Gulf region from Williams for $100 million. Williams Partners plans to fund the acquisition by issuing 42.8-million Williams Partners limited-partner units to Williams, $25 million in cash, and an increase to the general partner’s capital account to maintain Williams’ 2% general-partner interest. The sale is expected to close...

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