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CPPL
Columbia Pipeline Partners
Natural Gas
Midstream
Limited Partner
Exchange Listing Date 2/6/2015
olumbia Pipeline Group, Inc. and Columbia Pipeline Partners LP announce that at the reconvened special meeting of CPPL common unitholders held earlier today, February 16, 2017, CPPL unitholders voted to approve the previously announced merger of CPPL and a wholly owned subsidiary of CPG, pursuant to the Agreement and Plan of Merger dated November 1, 2016 (the "Merger Agreement"), between CPPL, CPG and certain other related parties thereto. Approximately 97.7% of the CPPL common units represented in person or by proxy at the special meeting of CPPL unitholders voted in favor of the approval of the Merger Agreement and the transactions contemplated thereby, including the merger, which represented approximately 59.8% of CPPL's total outstanding common units as of January 4, 2017, the record date for the special meeting. Pursuant to the Merger Agreement, CPG acquired all of CPPL's outstanding common units not already owned by CPG and its subsidiaries. Under the terms of the Merger Agreement, CPPL unitholders are entitled to receive (i) $17.00 in cash without interest, plus (ii) an additional amount of cash without interest equal to the product of (x) the number of days from and including the first day of the quarter in which the closing of the merger occurs through and including the closing date of the merger multiplied by (y) $0.00217 (a daily distribution rate equal to the quotient of $0.1975 divided by 91). Accordingly, each CPPL unitholder is entitled to receive $17.10 per common unit held by such CPPL unitholder. The final allocation of merger consideration is currently expected to occur on or about February 17, 2017

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