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Stock Market & Financial Investment News

News Breaks
July 10, 2014
16:43 EDTTLP, NGLNGL Energy Partners offer to acquire outstanding units of Transmontaigne
NGL Energy Partners (NGL) announced that it has submitted a non-binding proposal to the conflicts committee of the board of TransMontaigne, the general partner of TransMontaigne Partners (TLP), in which each outstanding common unit of TLP would be exchanged for one common unit of NGL. The proposed transaction is subject to the negotiation and execution of a definitive agreement, the approval of the TransMontaigne board and its conflicts committee and any requisite unitholder approval under applicable law.
News For NGL;TLP From The Last 14 Days
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February 2, 2016
08:37 EDTNGL, TLPTransMontaigne: NGL Energy closed sale of ownership interests in GP to Arclight
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08:31 EDTNGL, TLPNGL Energy says closes sale of interest in Transmontaigne Partners for $350M
NGL Energy Partners LP (NGL) announced that on February 1, 2016, it closed the sale of its interest in TransMontaigne GP LLC (TLP) to Gulf TLP Holdings, LLC, an affiliate of ArcLight Capital Partners for $350 million in cash. TLPGP is the general partner of TransMontaigne Partners L.P., a Delaware master limited partnership and holds the 2% general partner interest and incentive distribution rights of TLP. NGL will use the cash proceeds to repay borrowings outstanding on its revolving credit facility. The TransMontaigne marketing business is a significant part of NGL's refined products business and remains with NGL uninterrupted by this transaction. NGL will retain TransMontaigne Product Services LLC, its customer contracts and its line space on the Colonial and Plantation pipelines. NGL will retain approximately 3.2 million common units it owns in TLP and has granted an option to ArcLight to purchase 800,000 of those common units at a future date.
January 29, 2016
16:43 EDTNGLNGL Energy Partners CFO Atanas Atanasov to resign, effective February 5
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