Deals - Acquisition, Mergers, Divestitures
NGL Energy Partners Closes Merger with High Sierra Energy
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NGL Energy Partners LP has completed its previously announced merger with High Sierra Energy LP and High Sierra Energy GP, LLC (its general partner).
The aggregate merger consideration of $693 million, including working capital of approximately $38 million, was financed with a combination of $153 million in cash, assumed indebtedness of $95 million and $445 million in equity. High Sierra is a Denver, Colorado based limited partnership with three core business segments: crude oil gathering, transportation and marketing; water treatment, disposal, recycling and transportation; and natural gas liquids transportation and marketing.
New Credit Facility and Long Term DebtConcurrent with the completion of the mergers, NGL entered into a new senior secured revolving credit facility with…
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