Southcross Energy Partners LP received bankruptcy court approval for selling gas pipeline assets in two separate deals for $107 million, advancing its reorganization plan that awaits a creditor vote.
A Kinder Morgan Inc. subsidiary is buying Southcross’ pipeline systems, treatment and processing plants and other assets connected to its natural gas businesses located in South Texas for $76 million, according to deal agreements approved Oct. 22 by the U.S. Bankruptcy Court for the District of Delaware.
Magnolia Infrastructure Holdings LLC, a subsidiary of ArcLight Capital Partners, plans to buy Southcross’ assets in Mississippi and Alabama for $31.5 million.
Southcross, based ...
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