Locke Lord, Andrews Kurth Steer NGL’s $890M Gavilon Buy

Law360, New York (November 6, 2013, 2:09 PM EST) -- NGL Energy Partners LP inked an $890 million deal to purchase Gavilon Holding LLC’s midstream energy business, bulking up NGL’s crude oil storage and transportation capabilities, the energy company announced Wednesday.

The all-cash acquisition will be financed with about $240 million of equity under a private placement of common units and about $650 million of borrowings from NGL’s credit facility, according to a statement.

Taking on Gavilon’s energy business is expected to provide NGL with “an attractive portfolio of organic growth opportunities,” according to a statement....
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