TransMontaigne to acquire LPG assets
Oct 1, 2007 12:00 PM
TransMontaigne Partners LP has signed a binding letter of intent with Rio Vista Energy Partners LP to acquire Rio Vista's terminal facility in Matamoros, Mexico; two pipelines, with associated rights of way and easements, from Brownsville TX to Matamoros; and a permit to distribute liquefied petroleum gas (LPG) to Mexico's state-owned petroleum company. The total purchase price for the LPG assets is $10.5 million, subject to adjustments at closing. The transaction is expected to close during the fourth quarter of 2007. These LPG assets complement TransMontaigne Partners' existing LPG storage facility at Brownsville.
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