NGL Energy to Acquire Pecos Gathering & Marketing


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NGL Energy Partners LP ( NGL ) has signed an agreement with Pecos Gathering & Marketing, L.L.C. and its affiliated companies to acquire all of the limited liability company membership interests of Pecos for cash, plus an additional payment for agreed upon capital expenditures.

The company said the purchase price will be financed through borrowings under its credit facility. The transaction is expected to close November 1, 2012, subject to normal closing conditions.

NGL shed 5 cents yesterday but is trading close to year high $27.61.

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This article appears in: Investing , Commodities

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