Propane player NGL Energy Partners LP announced Monday that it has signed merger agreements with two High Sierra (HSE) entities, creating a diversified company through a cash and stock deal valued at $693 million, less assumed net debt.
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Propane Player Cites Shale Liquids in Midstream Deal
Propane company NGL Energy Partners LP had its eye on North America’s expanding liquids-rich shale plays when it agreed to acquire the natural gas liquids (NGL) assets of SemGroup Corp.’s SemStream LP in a deal worth about $283 million.
September 6, 2011