AIG Highstar Capital L.P. has agreed to sell the Southern Star Central Corp. gas pipeline system to GE Commercial Finance Energy Financial Services and Caisse de d?p?t et placement du Qu?bec for $362 million, the company said.

AIG Highstar, a private equity fund sponsored by AIG, said the proposed deal also includes the assumption of $467 million in debt and preferred stock.

Regulatory approval is expected within the third quarter of this year, the company said.

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