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Genesis Energy to acquire energy-related assets for $560 mln

Thu Apr 26, 2007 8:13am EDT

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April 26 (Reuters) - Genesis Energy L.P. (GEL.A) said it will acquire assets of five energy-related businesses from the Davison family of Ruston, Louisiana, for about $560 million.

Mergers & Acquisitions

The Davison family will receive about 13.5 million common units and about $280 million in cash for the assets, which are focused on transportation, storage, marketing and procurement of petroleum products and refinery services.

The company expects the acquisition to immediately add to its results. (Reporting by Saumyadeb Chakrabarty in Bangalore)

Mergers & Acquisitions


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