Questar is considering a possible tax-free spin-off of the company's natural gas and oil exploration and production (E&P) business. The new E&P company would be comprised of Questar subsidiaries Questar E&P Company, Questar Gas Management, and Questar Energy Trading. After the spin-off, Questar Corporation would remain an integrated natural gas company comprised of subsidiaries Wexpro Company, Questar Pipeline, and Questar Gas Company. Questar corporate headquarters would remain in Salt Lake City.
"A separation of our high-growth E&P business from our regulated businesses may be a logical step in a long-term strategy that has served all Questar stakeholders well over the past decade," said Keith O. Rattie, Questar's Chairman, President and Chief Executive Officer. "We're evaluating whether now is the time to take that step. If consummated, we believe the spin-off would create two top-tier companies in their respective market segments." Rattie added that Questar has engaged financial and legal advisers to assist with the evaluation. Subject to certain precedent conditions and board approval, the spin-off transaction may occur in the second half of 2010.
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