New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 24, 2012
07:00 EDTTLPTransmontaigne Partners upgraded to Buy from Hold at Stifel Nicolaus
Stifel upgraded Transmontaigne Partners based on increased visibility into cash flow and potential distributions following the recently acquired 42.5% ownership stake in Battleground Oil Terminal Company. Price target is $41.
News For TLP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 2, 2016
08:37 EDTTLPTransMontaigne: NGL Energy closed sale of ownership interests in GP to Arclight
Subscribe for More Information
08:31 EDTTLPNGL 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.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use