Special Situation Investing

Monday, November 06, 2006

Duke Energy (DUK) to Spinoff Natural Gas Business

Duke Energy (DUK) has announced it will be spinning off it's natural gas business. The new company is expected to be separated on Jan 1,2007, will be named Spectra Energy and should trade under the symbol, SE. Duke will be left with it's electrical utilities.

From the article:

Once the separation is complete, Spectra Energy, which will be based in Houston, will consist of the business unit now known as Duke Energy Gas Transmission and Duke Energy's (NYSE: DUK - News) 50 percent ownership interest in Duke Energy Field Services, which recently announced its new name -- DCP Midstream.


Spectra Energy will operate primarily in three sectors of the natural gas industry: Transmission and storage, distribution, and gathering and processing.

Comments or opinions on the spinoff are welcome.


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