M&A
confidence high
sentiment positive
materiality 0.75
NGL Energy Partners signs agreements to sell marine assets for $111.65M cash
NGL Energy Partners LP
- Sale price $111.65M cash for marine fleet of 13 towboats and 25 tank barges.
- Proceeds to be used for debt reduction; transaction expected to close end of March 2023.
- CEO states non-core asset sale to reduce leverage and absolute debt.
- BofA Securities serving as financial advisor; McAfee & Taft as legal counsel.