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Inergy Midstream, L.P. Acquires US Salt from Inergy, L.P. for $192.5M

Inergy Midstream, L.P. (NYSE: NRGM) announced today that it has acquired 100% of the membership interests in US Salt, LLC (US Salt) from Inergy, L.P. (NYSE: NRGY) for total consideration of $192.5 million. The transaction is expected to be immediately accretive to NRGM unitholders on a distributable cash flow per unit basis.

“The acquisition of US Salt represents the first drop down transaction for NRGM and complements our existing natural gas and NGL storage and transportation platform nicely. This transaction demonstrates our commitment to growing NRGM's distributable cash flow and delivering on the growth expectations for the company,” said John Sherman, President and CEO of NRGM.

Posted-In: News M&A

 

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