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News Breaks | | | | June 19, 2012 | | 08:17 EDT |  | MMLP, CNP | Martin Midstream Ptnrs to sell natural gas gathering & processing assets
Martin Midstream Partners L.P. announced that it has entered into a definitive agreement to sell its East Texas and Northwest Louisiana natural gas gathering and processing assets owned by Prism Gas Systems I, L.P., a wholly-owned subsidiary of MMLP, and certain other natural gas gathering and processing assets also owned by the Partnership to CenterPoint Energy Field Services, LLC, or CEFS, an indirect, wholly-owned subsidiary of CenterPoint Energy (CNP), for $275M subject to certain purchase price adjustments prior to closing. The assets to be sold include the Partnership's 50% operating interest in the Waskom Gas Processing Co.. A subsidiary of CEFS owns the remaining 50% interest in Waskom. MMLP intends to use the proceeds from this transaction to repay indebtedness under its revolving credit facility and to fund future growth opportunities. | |
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News For MMLP;CNP From The Last 14 Days Check below for free stories on MMLP;CNP the last two weeks. |
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| May 23, 2013 | | 09:13 EDT | | MMLP | Martin Midstream Partners to acquire assets of NL Grease
Martin Midstream Partners announced that its subsidiary, Martin Operating Partnership, has entered into an asset purchase agreement to acquire substantially all of the assets and inventory of Kansas City, Missouri based NL Grease, a grease manufacturer that specializes in private-label packaging of commercial and industrial greases. The acquisition is expected to close before the end of July. The Partnership expects incremental cash flow of approximately $2.5M annually from the newly acquired assets. | |
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