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Stocks I / Inergy, L.P.
|Subject: Suburban acquires retail business||Date: 5/3/2012 9:07 PM|
|Author: Razz037||Number: 5 of 10|
Suburban Propane will acquire the retail business of Inergy for $1.8bn to form the third-largest US distributor by volume of propane, a gas used as fuel for rural businesses and homes and backyard barbecues.
And for Inergy:
The disposal of Inergy’s retail business will allow the company to focus on its pipeline business, a move welcomed by analysts.
“Proceeds from the sale of the retail propane business will substantially improve [Inergy’s] balance sheet,” said Elvira Scotto, an RBC Capital Markets analyst who added the deal better positioned Inergy for future growth.
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