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23.09.2014 14:10:07
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EV Energy Partners To Divest Its 9% Interest In Cardinal Gas Services
(RTTNews) - EV Energy Partners L.P. (EVEP) announced it has signed an agreement to divest its nine percent interest in Cardinal Gas Services, L.L.C., to E1 and a Korean consortium led by Samchully for $162 million, which includes estimated purchase price adjustments of approximately $18 million.
The sale is being made in conjunction with TOTAL E&P USA, INC., which has also agreed to divest its 25 percent interest in Cardinal Gas Services. Upon closing, EVEP intends to use the net proceeds to repay amounts outstanding under its revolving credit facility.
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