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EV Energy to Drop Interest in Cardinal Gas Services

Samchully Co. EV Energy Partners Lp, Total SA
AnnouncedSep 23, 2014
TypeAsset
Announced Date
September 23,2014
Transaction Type
Asset




Snapshot
Location
Country
United States


Transaction Details:  Require Private Equity Subscription

EV Energy Partners, L.P. has signed an agreement to divest its nine percent interest in Cardinal Gas Services, L.L.C., (CGS) to E1 and a Korean consortium led by Samchully for $162 million, which includes estimated purchase price adjustments of approximately $18 million. 

This sale is being made in conjunction with TOTAL E&P USA, INC., which has also agreed to divest its 25 percent interest in CGS.  The transaction is expected to close in mid-October 2014 and is subject to regulatory approval, tag-along rights and approval of the other member of CGS, as well as customary closing conditions…

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