Boardwalk Pipeline Partners, LP BWP announced today that a subsidiary
has purchased the remaining 80% equity interest in Boardwalk HP Storage
Company, LLC from Boardwalk Pipelines Holding Corp., a wholly-owned
subsidiary of Loews Corporation L and the parent of our general
partner, for approximately $285 million, which is the same price paid by BPHC
when it acquired this interest in December 2011. This transaction was approved
by the independent Conflicts Committee of the Board of Directors. "Acquiring
the remaining ownership interest in Boardwalk HP Storage was one of our key
goals for 2012,” said Stan Horton, President and CEO of Boardwalk. "Boardwalk
has been operating these assets since they were acquired in December 2011 and
the transition has gone extremely well.”
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