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Article: WPS Resources Corporation Sells Interest in Guardian Pipeline.
- Article from:
- PR Newswire
- Article date:
- March 30, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GREEN BAY, Wis., March 30 /PRNewswire-FirstCall/ -- WPS Resources Corporation announced today that it has sold its one-third interest in Guardian Pipeline, L.L.C. to Northern Border Partners, L.P. for $38.5 million, which should result in an after tax gain for WPS Resources of approximately $3.7 million. The purchase is expected to close by the end of April 2006, subject to receipt of all necessary approvals.
"Our investment in Guardian Pipeline generated positive returns for our company," said Larry Weyers, Chairman, President, and Chief Executive Officer of WPS Resources. "When Northern Borders approached us regarding the sale of our interest in the ...