Highbridge J.V. Sells Natural Gas Assets For $1.95B

Mar 23 2011 | 11:18am ET

Highbridge Capital Management's joint energy venture with Louis Dreyfus Group has sold a set of energy assets for $1.95 billion.

The cash deal will see a pipeline and natural-gas storage and processing plants transferred to Energy Transfer Partners and Regency Energy Partners. The assets are in Texas, Mississippi and Louisiana.

Louis Dreyfus Highbridge was formed in 2007 when Highbridge bought a $1 billion stake in Louis Dreyfus ES Holdings. The firm is based in Wilton, Conn., up the road from Highbridge's New York headquarters.

"We see a number of exciting growth opportunities for these assets, which will allow both partnerships to compete in a new business platform of the midstream value chain, add downstream capabilities and capitalize on favorable N.G.L. market fundamentals," Regency CEO Mike Bradley said. "In addition, we anticipate that Louis Dreyfus will remain an important customer."


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note