The acquisition is subject to approval under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The closing is expected to occur in late first quarter or early second quarter of 2008.
The purchase price of $85 million is subject to customary closing date and post-closing adjustments, and will be funded using borrowings under Regency’s revolving credit facility.
James Hunt, chairman, president and CEO of Regency, said: Nexus operates in one of the most prolific producing areas of Louisiana. The Nexus assets will be integrated into our north Louisiana asset base.
