| NEW YORK
NEW YORK Aug 15 NGL Energy Partners LP
and TransMontaigne Partners LP said on Friday they have
terminated discussions on NGL's non-binding proposal to acquire
the outstanding common units of TLP, according to a press
The discussions were terminated after the Conflicts
Committee of TransMontaigne GP LLC's Board of Directors reviewed
the terms of NGL's non-binding proposal and determined the two
parties would not be able to agree on the price to be offered to
unitholders of TLP. The board's independent advisors held
several discussions with NGL's representatives in the last
month, the release stated.
TransMontaigne GP LLC is the general partner of TLP.
TransMontaigne Partners LP provides transport and storage of
petroleum and refined products. NGL Energy Partners LP is a
vertically integrated energy business whose services include oil
NGL currently owns TransMontaigne GP LLC, which it purchased
from Morgan Stanley in a sale that closed in early July.
It also owns 19.7 percent of the outstanding common units of
(Reporting by Anna Louie Sussman; Editing by James Dalgleish)