National Fuel Gas Plans To Separate Into Two Independent, Publicly Traded Companies Via Spin-Off Of Its Integrated Upstream And Gathering Business; Upon Completion, Shareholders Will Own Shares In Both NFG And IUG With NFG Retaining A 19.9% Stake In IUG
Transaction DetailsNational Fuel intends to separate IUG through a pro rata distribution of shares of IUG to National Fuel shareholders in a manner that is intended to be tax-free for National Fuel and its shareholders
National Fuel is splitting into two separate companies. One focuses on gas pipes and storage; the other on finding and pumping gas. Shareholders will own both pieces, which might help each company focus better on its own business.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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