Williams bidding for QEP pipeline unit: sources

New York

WILLIAMS Cos is among the bidders for QEP Resources Inc's natural-gas pipeline unit, Entrada Midstream Inc, which could fetch about US$2.5 billion in a sale, people familiar with the matter have said. Questar Corp, QEP's former parent, is also interested in Entrada, a spokesman for the natural gas utility said separately last Friday. QEP could select a buyer within weeks, one person said, asking not to be identified discussing private information.

The Denver-based company, which said in June that it would spin off Entrada, is working with Deutsche Bank AG to find buyers, the people said. The spinoff plan came after activist investor Jana Partners LLC urged QEP to break up. Jana has since sold its entire position in the company.