Deals
Chesapeake Said in Talks to Sell Pipelines for $4 Billion
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Chesapeake Energy Corp. is in advanced talks to sell pipelines to Global Infrastructure Partners for more than $4 billion, said two people with knowledge of the matter.
The energy explorer, facing a $22 billion cash-flow shortfall after natural-gas prices touched a decade low, is discussing selling its entire stake in Chesapeake Midstream Partners LP and other pipeline assets, said the people, who spoke on condition of anonymity because the talks are private. The negotiations may lead to a deal within days and could also fall apart, the people said.