Piedmont Natural Gas will sell its remaining stake in SouthStar Energy Services to Georgia Natural Gas for $160 million, subject to Piedmont’s own sale to Duke Energy later this year. GNG gave notice to Piedmont (NYSE:PNY) in mid-December that it would purchase the final 15% of SouthStar, a multi-state gas transportation company. GNG had the right to purchase the stake in the 17-year-old joint venture because of the pending sale to Duke (NYSE:DUK). But Piedmont and GNG had not settled on a price…
from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/blog/energy/2016/02/piedmont-natural-gas-agrees-to-160m-sale-of.html
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