Jun. 1, 2015, 8:29 AM
- Ferrellgas Partners (NYSE:FGP) agrees to acquire privately-held integrated crude oil midstream services provider Bridger Logistics for $837.5M, including $562.5M in cash and 11.2M units.
- FGP says the move positions it to significantly expand its midstream platform, and expects it to be immediately accretive and supportive of future distribution growth.
- FGP also announces a dividend increase to $0.5125/unit, $2.05 on an annualized basis, effective following the closing of the transaction.
Ferrellgas Partners, L.P. distributes and supplies propane and related equipment primarily in the U.S. The company operates through two segments include: Propane and Related Equipment Sales and Midstream Operations. The Propane and Related Equipment Sales segment distributes propane and related... More
Sector: Basic Materials
Industry: Oil & Gas Refining & Marketing
Country: United States
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