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BRIEF-Superior Plus to acquire Gibson Energy's industrial propane business
February 13, 2017 / 1:58 PM / 5 months ago

BRIEF-Superior Plus to acquire Gibson Energy's industrial propane business

2 Min Read

Feb 13 (Reuters) - Superior Plus Corp

* Superior Plus Corp to acquire Gibson Energy's industrial propane business, enhancing and expanding the energy distribution platform

* Superior Plus Corp - deal for $412 million

* Superior Plus Corp - deal expected to provide annual synergies of at least $20 million

* Superior Plus Corp - deal to provide double digit accretion to AOCF per share including expected synergies

* Superior Plus - co has ability to finance 100 pct of purchase price with available room on its credit facility and additional commitments received

* Superior Plus Corp - annual run rate synergies are expected to be fully realized within 24 to 36 months from closing of transaction

* Superior Plus Corp - superior may consider additional long-term debt financing alternatives to reduce draw on its credit facilities

* Superior Plus - depending on market conditions, co may consider additional long-term debt financing alternatives to reduce draw on credit facilities

* Superior Plus Corp - on a pro forma basis, transaction would result in an approximate 20 pct increase in EBITDA of Superior's Energy distribution business Source text for Eikon: Further company coverage:

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