NiSource announces statement for Columbia Pipeline Group separation

NiSource Inc. announced the filing of an initial form 10 registration statement with the US Securities and Exchange Commission (SEC) in connection with the company's previously announced plan to separate its natural gas pipeline and related businesses into a stand-alone publicly traded company in mid-2015.

Columbia Pipeline Group (CPG), which is expected to be listed on the New York Stock Exchange, will include Columbia Pipeline Partners, Columbia Gas Transmission, Columbia Gulf Transmission, Columbia Midstream Group (formerly NiSource Midstream Services) and other current NiSource natural gas pipeline, storage and midstream holdings.

After the planned separation, NiSource will remain one of the largest natural gas utility companies in the United States, serving more than 3.4 million customers in seven states under the Columbia Gas and NIPSCO brands. The company also will continue to provide electric distribution, generation and transmission services for approximately 450 000 NIPSCO electric customers in northern Indiana. NiSource will continue to be listed on the New York Stock Exchange.

As announced in December 2014, Robert C. Skaggs Jr., current NiSource Chief Executive Officer is expected to become CEO of CPG. Joseph Hamrock, currently executive vice president and group CEO of NiSource's Gas Distribution business unit, is expected to become CEO of NiSource.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/09022015/nisource-announces-statement-for-columbia-pipeline-group-separation/