NiSource (NI) announced that it has commenced the IPO of Columbia Pipeline Partners LP (CPPL) at $19-$21 per common unit on the NYSE.
The common units being offered represent an approximate 42.7% limited partner interest in the Partnership (or an approximate 46.2% limited partner interest if the underwriters exercise in full their option to purchase additional common units). Columbia Energy Group will own the remaining approximate 57.3% limited partner interest in the Partnership (or an approximate 53.8% limited partner interest if the underwriters exercise in full their option to purchase additional common units), the general partner of the Partnership and the Partnership’s incentive distribution rights. Source
