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LDH Energy Sells For $1.92B

Energy Transfer Partners and Regency Energy Partners have partnered to acquire LDH Energy Asset Holdings from Louis Dreyfus Highbridge Energy for about $1.92 billion.

    Energy Transfer Partners(ETP) andRegency Energy Partnershave partnered to acquireLDH Energy Asset Holdings(LDH) fromLouis Dreyfus Highbridge Energyfor about $1.92 billion. ETP will put $1.35 billion in exchange for a 70% stake in the joint venture, while Regency will contribute $578 million for a 30% ownership interest.

    ETP will operate the assets on behalf of the joint venture with the existing LDH employees as per the deal, which may close in the second quarter of 2011. Louis Dreyfus has been advised byGoldman SachsandBarclays Capital, addsReuters.

    Click here for the release fromRegency Energy Partners.

    Click here for additional coverage fromReuters.

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