One-Page Deal Sheet
Martin Midstream to Divest Floating NGL Assets
Not Disclosed Martin Midstream Partners Lp
Announced Date
February 05,2015
Transaction Type
Asset
Location
Region
North America
Country
United States
Transaction Details: Subscribe to see
Martin Midstream Partners L.P. reported that its wholly-owned subsidiary, Martin Operating Partnership L.P., has entered into a definitive agreement to sell six liquefied petroleum pressure barges for an aggregate price of $41.25 million. The Partnership has chosen to exit the natural gas liquids floating storage and trans-loading businesses, having been involved in such since the purchase of these barges in early 2013.
All proceeds from the divestiture will be used to repay outstanding indebtedness under the Partnership's revolving credit facility. In addition to repaying the revolving…
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