El Paso Corp., Houston, (NYSE: EP) has reported that its board of directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011.

Following the completion of the proposed spinoff, El Paso Corp. will be comprised of El Paso's Pipeline Group, its midstream group, and its general and limited partner interests in El Paso Pipeline Partners, L.P. (NYSE: EPB). It will be the premier pipeline company in North America, uniquely integrated in the major U.S. supply and market regions. With ...