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Article: Midcoast Energy Announces Agreement to Acquire Mid Louisiana Gas and Related Companies.
- Article from:
- Business Wire
- Article date:
- October 2, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON--(BUSINESS WIRE)--Oct. 2, 1997--Midcoast Energy Resources Inc. (AMEX:MRS) today announced that it has reached an agreement to acquire through merger Republic Gas Partners L.L.C. ("Republic"), which owns Mid Louisiana Gas Company ("MIDLA"), Mid Louisiana Gas Transportation Company ("MLTC") and Mid Louisiana Marketing Company ("MLMC"). The merger is valued at $29.5 million and is anticipated to close within 45 days.
MIDLA owns a 402 mile 22" interstate gas pipeline which runs from the Monroe gas field in northern Louisiana southward through Mississippi to Baton Rouge, Louisiana. The system includes two compressor stations with a total of 5,875 ...