ONEOK Completes Separation Of Its Natural Gas Distribution Business

(RTTNews) - ONEOK, Inc. (OKE) announced it has completed separation of its natural gas distribution business into a stand-alone, publicly traded company called ONE Gas Inc. (OGS). ONE Gas common stock will begin "regular-way" trading under the symbol, OGS, on NYSE Feb. 3, 2014, when markets open. ONEOK will continue to trade on the NYSE under the ticker symbol OKE.

Terry Spencer is now president and CEO of ONEOK and ONEOK Partners, and a member of the ONEOK board of directors; he remains on the ONEOK Partners board. Pierce Norton II is now president and chief executive officer of ONE Gas and a member of the ONE Gas board.

ONEOK shareholders of record at the close of business on Jan. 21, 2014, retained their shares of ONEOK stock and received one share of ONE Gas stock for every four shares of ONEOK stock owned. ONE Gas shares were distributed following the close of business on Jan. 31, 2014.