HOUSTON, March 15, 2011 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (NYSE:NGLS) ("Targa Resources Partners" or the "Partnership"), today announced that, through its wholly owned subsidiary, Coast Energy Group LLC, it has acquired a refined petroleum products and crude oil storage and terminaling facility (the "Terminal") in Channelview, TX. Located on Carpenter's Bayou along the Houston Ship Channel, the Terminal can handle multiple grades of blend stocks, products and crude. The transaction was paid entirely with cash funded through borrowings under the Partnership's senior secured revolving credit facility. Total value of the transaction is below the Hart-Scott-Rodino Act ("HSR") minimum.
Targa Resources Partners LP Agrees To Acquire Refined Products And Crude Oil Storage And Terminaling Facility In Channelview, TX
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