BG Group PLC Signs Agreement With Azure Midstream Energy, LP

Thursday, 17 Oct 2013 06:31am EDT 

BG Group PLC announced that it has signed a definitive agreement with Azure Midstream Energy, LP (Azure) for the sale of its entire holding in TGGT - a joint venture midstream company operating in east Texas and north Louisiana, USA. BG Group will receive a net cash consideration of $231 million along with a $17 million stake in Azure, equating to an approximate 4% equity holding, for its entire 50% equity holding in TGGT. BG Group's sale of its interests in TGGT is aligned with a key strategic commitment to more actively manage its portfolio as the Company focuses on its core strengths of exploration and production and LNG. 

Company Quote

-0.03 -0.15%
22 Aug 2014