Chesapeake Energy Corporation Announces Closing of Sale of Its Interests in Chesapeake Midstream Partners to Global Infrastructure Partners for $2.0B

Chesapeake Energy Corporation

today announced that Global Infrastructure Partners (GIP) has closed the previously announced acquisition of all of Chesapeake's ownership interests in Chesapeake Midstream Partners, L.P.

for $2.0 billion, resulting in an anticipated pretax gain to Chesapeake of approximately $1.0 billion. As previously disclosed, Chesapeake is also negotiating the sale of certain Mid-Continent gathering and processing assets to CHKM and a separate transaction to sell the company's interests in its wholly owned subsidiary, Chesapeake Midstream Development, L.P. (CMD), to GIP.