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Global Partners to sell natural gas and electricity businesses

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Staff Writer | January 4, 2017
Global Partners announced that its wholly owned subsidiary, Global Companies, will sell its natural gas marketing and electricity brokerage businesses to Sprague Resources.
Sprague Resources
Selling business   To monetize assets
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.

“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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