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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. 

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14.03
-2.48 -15.02%
12:59pm EST