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NGL Energy Partners Approves Conversion of Subordinated Units [Manufacturing Close - Up](Manufacturing Close - Up Via Acquire Media NewsEdge) NGL Energy Partners reported that the Board of Directors of its general partner has confirmed and approved that, upon payment of the distribution for the fiscal quarter ended June 30, the conditions for conversion of NGL's subordinated units will be satisfied. According to a release from the company, as previously announced, the quarterly distribution is payable on August 14. Accordingly, NGL's 5,919,346 subordinated units will convert on a one-for-one basis into common units effective August 15, the day following the distribution. NGL Energy Partners owns and operates a vertically integrated energy business with five primary businesses: water solutions, crude oil logistics, NGL logistics, refined products / renewables and retail propane. More Information: www.nglenergypartners.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |