(Adds Global Infrastructure Partners declined to comment)
June 13 A major U.S. pipeline company, Williams
Cos Inc, is in advanced talks to buy a stake in natural
gas and oil gathering services provider Access Midstream
Partners LP for about $3 billion, Bloomberg reported
citing people familiar with the matter.
Williams would buy the stake from private equity firm Global
Infrastructure Partners, which owns about a third of Access
Midstream as well as half of its general partner called Access
Midstream Partners GP LLC, the Bloomberg's report said. (r.reuters.com/hyc22w)
Both Williams Cos and Access were not immediately for a
comment. Global Infrastructure Partners declined to comment.
Williams bought a 50 percent stake in the general partner
Access GP and a 25 percent stake in Access toward the end of
December 2012. (r.reuters.com/gyc22w)
The deal would provide Williams, the fourth largest U.S.
pipeline company based on market capitalization, with full
control of the general partner Access Midstream Partners GP,
according to the report.
Access provides natural gas and oil gathering services to
oil producers Chesapeake Energy Corp, Total E&P USA Inc,
Anadarko Petroleum Corporation (Anadarko), among others.
Shares of Williams and Access were up about 1 percent in
extended trading on Friday.
(Reporting by Ankit Ajmera in Bangalore; Editing by Diane Craft
and Lisa Shumaker)