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Selling business   To monetize assets

Global Partners to sell natural gas and electricity businesses

Sprague ResourcesGlobal Partners announced that its wholly owned subsidiary, Global Companies, will sell its natural gas marketing and electricity brokerage businesses to Sprague Resources.

The price is approximately $17.3 million in cash, subject to customary closing adjustments. The transaction is expected to close in the first quarter of 2017.

READ MORE GIP to sell interest in Ruby Pipeline for $1.425 billion

“The sale of our natural gas marketing and electricity brokerage businesses reflects our ongoing program to monetize assets that are not fundamental to our growth strategy,” said Mark Romaine, the Partnership’s Chief Operating Officer.

“We continue to focus on further optimizing and expanding our core retail and wholesale lines of business.”




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