Martin Midstream Unloads $275M In Assets To CenterPoint

Law360, New York (June 19, 2012, 2:10 PM EDT) -- Martin Midstream Partners LP will hand off its Louisiana and East Texas natural gas gathering and processing operations to CenterPoint Energy Inc. in a $275 million deal meant to lighten its debt and build reserves to back future growth, Martin Midstream said Tuesday.

By shedding the noncore holdings, Martin Midstream will be able to better focus on its core operating assets — most of which are fees-based and provide greater stability. Dropping nonfee assets will help insulate the Kilgore, Texas-based company from shakier cash flow and...
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