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Slide #27. NGL Energy Partners LP — Gavilon's Energy Business
NGL Energy Partners LP (NYSE:NGL)
Gavilon's Energy Business
NGL Energy Partners LP (NYSE:NGL) announced today that it has reached a definitive agreement to acquire all of the equity interests of Gavilon, LLC, the diversified midstream energy business owned by funds managed by Ospraie Management, General Atlantic and Soros Fund Management. The definitive agreement contemplates the purchase of Gavilon's energy business on a cash-free, debt-free basis for a cash purchase price of $890 million, which includes approximately $200 million of working capital, subject to a customary adjustment based on a target level of working capital to be delivered by Gavilon at the closing of the proposed transaction.
NGL Energy Partners transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and refined petroleum products. Co.'s crude oil logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale. Co.'s water solutions segment transports, treats, recycles and disposes of produced and flowback water generated from crude oil and natural gas production. Co.'s liquids and refined products segment conducts marketing operations for natural gas liquids, refined petroleum products and biodiesel to a range of commercial, retail and industrial customers across the United States and Canada.
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Hold (1.50 out of 4)