Ferrellgas Closes Acquisition of Sable Environmental and Sale of Common Units
02 May 2014 - 5:27AM
Ferrellgas Partners, L.P. (NYSE:FGP), one of the nation's largest
distributors of propane, today announced it has closed on its
acquisition of Sable Environmental, LLC and a related entity
("Sable") for $124.7 million. Sable is a privately held,
fast-growing fluid logistics provider in the Eagle Ford Shale
region of south Texas. Subsequent to the acquisition of Sable,
Sable's ownership group purchased $50 million of the partnership's
common units in a registered offering.
About Ferrellgas
Ferrellgas Partners, L.P., through its operating partnership
Ferrellgas L.P. and subsidiaries, serves propane customers in all
50 states, the District of Columbia and Puerto Rico and provides
midstream services to major energy companies in the United States.
Ferrellgas employees indirectly own more than 21 million common
units of the partnership through an employee stock ownership plan.
More information about the partnership can be found online at
www.ferrellgas.com.
Forward-Looking Statements
Statements in this release concerning expectations for the
future are forward-looking statements. A variety of known and
unknown risks, uncertainties and other factors could cause results,
performance and expectations to differ materially from anticipated
results, performance and expectations. These risks, uncertainties
and other factors are discussed in the Form 10-K of Ferrellgas
Partners, L.P., Ferrellgas Partners Finance Corp., Ferrellgas,
L.P., and Ferrellgas Finance Corp. for the fiscal year ended July
31, 2013, and other documents filed from time to time by these
entities with the Securities and Exchange Commission.
CONTACT: Alan Heitmann, Investor Relations, (816) 792-6879
Scott Brockelmeyer, Media Relations, (913) 661-1830
Ferrellgas Partners (NYSE:FGP)
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