Chesapeake Energy Corporation (NYSE:CHK) has announced the sale of its interest in Chesapeake Midstream Partners, L.P. (CHKM) to Global Infrastructure Management LLC this morning. The firm will pay $2 billion for the share in CHKM and there will be a related dale of $2 billion of Assets from Chesapeake to Midstream.
The move is part of Chesapeake's plan to resolve its cash crisis but may raise the ire of some investors. Carl Icahn raised questions about the sale in the last week. Midstream provides Chesapeake with a constant stream of income, something the firm has a great need for.
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