NGL Energy closes on latest acquisition, TransMontaigne

Acquisition-focused NGL Energy Partners announced Tuesday it has closed on its latest buy — commodities mover and storer TransMontaigne Inc.Tulsa-based NGL is spending $200 million in cash for a controlling stake in the TransMontaigne from Morgan Stanley. Denver-based TransMontaigne owns and operates terminal, storage and transport assets for refined petroleum, crude oil chemicals, fertilizers and other liquid products. NGL also is paying $347 million for inventory in the deal. It gets 17 percent of the outstanding units in the TransMontaigne master limited partnership plus the general-partner management interest.

via NGL Energy closes on latest acquisition, TransMontaigne – Tulsa World: Energy.

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