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* Shares of natural gas utility and pipeline firm National Fuel Gas rise 1.1% to $81.99 premarket * Co. announces plans to spin off its Integrated Upstream and Gathering (IUG) business into a separate public company * NFG shareholders to own stakes in both companies * Expects to complete transaction by second half of 2
National Fuel Gas said its board approved a plan to separate its Integrated Upstream and Gathering business through a tax-free spin-off, targeted for the second half of 2027.
National Fuel plans to spin off its integrated upstream and gathering business as IUG, with shareholders receiving shares pro rata and National Fuel retaining up to a 19.9% stake. The company expects to complete the separation in the second half of 2027, subject to customary conditions and approvals.
National Fuel Gas plans to separate its Integrated Upstream and Gathering business in a tax-free spin-off, retaining up to 19.9% after the transaction. Completion is expected in H2 2027, subject to approvals.