Crestwood and con edison announce divestiture of stagecoach gas services

Houston and new york, june 1, 2021 /prnewswire/ -- crestwood equity partners lp (nyse: ceqp) ("crestwood") and consolidated edison, inc. (nyse: ed) ("con edison") today announced that their subsidiaries entered into a purchase and sale agreement to divest stagecoach gas services llc ("stagecoach"), to a subsidiary of kinder morgan, inc. (nyse: kmi) for $1.225 billion. the cash proceeds from the divestiture will be split pro rata between crestwood and con edison in line with each member's 50% ownership interest in the joint venture.
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