The Williams Cos. Inc. and Williams Partners LP said on Aug. 26 that, through a private placement from Williams Partners, Williams will purchase about 6.975 million common units representing limited partner interests in Williams Partners for about $250 million.

The units are priced at $35.84 each. Williams Partners will use the net proceeds to repay amounts outstanding under the partnership’s credit facility and to support general partnership purposes.

When the private placement is complete, Williams’ aggregate ownership interest in Williams Partners including the general partner interest will remain at about 60%.

Williams Cos. Inc. is based in Tulsa, Okla.