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Inergy (NRGY -1%) passes the salt, selling its 100% membership interest in US Salt to Inergy...

Inergy (NRGY -1%) passes the salt, selling its 100% membership interest in US Salt to Inergy Midstream (NRGM -0.4%) for $192.5M. Inergy is shifting its focus from the retail sale of natural gas to the midstream business, which includes the transportation and storage of gas; US Salt mines for salt, leaving caverns that can be used to store natural gas.
Comments (4)
  • long_on_oil
    , contributor
    Comments (1049) | Send Message
     
    Is NRGY giving everything to NRGM leaving us NRGY stockholders holding an empty bag?
    I wish someone in Seeking Alpha that knows what is going on with NRGY would write an article on it. I own a bunch of this loser.
    14 May 2012, 12:55 PM Reply Like
  • appleeyew
    , contributor
    Comments (2) | Send Message
     
    what is left at nrgy.looks as if everything is gone!
    14 May 2012, 03:05 PM Reply Like
  • long_on_oil
    , contributor
    Comments (1049) | Send Message
     
    I studied further and NRGY owns 75% of the company they sold the salt company to so it appears to be shuffling money so they can align both companies to their best interests. Apparently spinning off companies and then controlling the spin off is in vogue rather than make divisions within one big company. Must have something to do with profitability and liability. SDRL has been doing this too.
    15 May 2012, 08:38 AM Reply Like
  • metal27
    , contributor
    Comments (336) | Send Message
     
    The real question us what will NRGY do with the proceeds from the propane business?
    31 May 2012, 02:09 PM Reply Like
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