WILLIAMS TO BUY UNITS
TULSA — Williams Cos. Inc. has agreed to buy nearly 7 million common limited partner units from its Williams Partners LP for $250 million, the companies announced Friday.
The private placement is part of a plan announced earlier this month. Williams Partners plans to use the net proceeds from the private placement to repay debt and for general partnership purposes, the company said.
When the private placement is complete, Williams Cos. ownership in Williams Partners will remain about 60 percent.