NGL Energy up on deals to sell marine assets for about $112 mln
06/03/2023 15:46
** Shares of NGL Energy Partners LP NGL.N climb 10% to
$3.88, highest in over two years
** NGL signs two deals to sell all of its marine assets for
$111.65 million in cash
** NGL's marine fleet consists of 13 towboats and 25 tank
barges
** Deal expects to close at the end of this month
** "This non-core asset sale should allow NGL to further
reduce leverage by March 31, 2023, as these proceeds will be
used for debt reduction" - Mike Krimbill, NGL's CEO
** NGL shares up 219% so far this year
(Reporting by Arunima Kumar in Bengaluru)
((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))
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