EKT has not divulged the value of the sale, which is still subject to regulatory approval. However, David Trone, an analyst at financial group Prudential Financial, has valued EKT at around $1 billion. The transaction does not include the sale of the Gulf South Pipeline, which provides gas transportation and storage services. EKT is expected to auction this asset separately.
The purchase marks the latest in a series of attempts by Merrill Lynch to re-enter the energy trading market. The bank
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