Williams Partners L.P. And Williams Companies Inc To Pursue Agreement For Partnership To Acquire Williams’ 83.3% Interest In Geismar Olefins-Production Facility

Williams Partners And Williams Companies Inc announced their intent to pursue an agreement for Williams Partners to acquire Williams’ 83.3% interest and operatorship of the olefins-production facility in Geismar, La. Williams owns 68% of Williams Partners, including the general-partner interest. The transaction is subject to execution of an agreement between the two parties, review and recommendation by the conflicts committee of the general partner of Williams Partners, and approval of the two parties’ Boards of Directors.