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EQT to sell gas utility for $720 mln plus some assets
December 20, 2012 / 1:20 PM / 5 years ago

EQT to sell gas utility for $720 mln plus some assets

Dec 20 (Reuters) - Appalachian natural gas company EQT Corp said it will sell its natural gas distribution business to privately held Peoples Natural Gas for about $720 million in cash.

In addition to the cash, EQT said it will receive certain pipeline assets and commercial arrangements, which are expected to generate at least $40 million in earnings before interest, taxes, depreciation and amortization per year.

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