Boardwalk Pipeline Partners (BWP) and Boardwalk Pipelines Holding (BPHC), a unit of BWP's...

|About: Boardwalk Pipeline Partne... (BWP)|By:, SA News Editor

Boardwalk Pipeline Partners (BWP) and Boardwalk Pipelines Holding (BPHC), a unit of BWP's general partner, Loews Corp (L), form a JV to acquire pipeline company PL Midstream for $625M. The JV is acquiring PL Midstream from closely held PL Logistics, with the deal representing a foray into the natural gas liquids business. BWP will own 33% of the JV and BPHC 67%. (PR)