SemGroup has completed the acquisition of all of the outstanding common units of Rose Rock Midstream
OREANDA-NEWS. SemGroup® Corporation (NYSE:SEMG) today announced that it has completed the acquisition of all of the outstanding common units of Rose Rock Midstream®, L.P. (NYSE:RRMS) not already owned by the company.
“SemGroup’s shareholders showed resounding support for this important transaction, which simplifies our corporate capital structure and provides the financial flexibility to execute on our strategic growth plan,” said Carlin Conner, president and chief executive officer of SemGroup. “This business combination provides immediate benefits to our investors and expected dividend growth beyond 2016 as we position for long-term value creation.”
Based in Tulsa, Okla., SemGroup® Corporation is a publicly traded midstream service company providing the energy industry the means to move products from the wellhead to the wholesale marketplace. SemGroup provides diversified services for end users and consumers of crude oil, natural gas, natural gas liquids, refined products and asphalt. Services include purchasing, selling, processing, transporting, terminalling and storing energy.
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