Morgan Stanley To Sell TransMontaigne Ownership Stake - Quick Facts

(RTTNews) - Morgan Stanley (MS) Monday announced agreement to sell its ownership stake in TransMontaigne Inc., a U.S.-based oil storage, marketing and transportation company, to NGL Energy Partners LP.

The transaction also includes TransMontaigne Partners' physical inventory and the assumption of Morgan Stanley's obligations under certain terminal storage contracts.

"Following this transaction, Morgan Stanley's leading commodities division will be leaner, more client focused and better aligned with the rest of the Firm's businesses, " said Colm Kelleher, President of Institutional Securities at Morgan Stanley.