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The assets are located in Mississippi, Alabama, and south Texas, US. Announcement (June 10, 2009): Southcross Energy has entered into a definitive agreement to acquire the assets of Crosstex Energy for $220 million. The transaction is expected to close on July 31, 2009. Goldman, Sachs & Co. is acting as financial advisor to Crosstex on the transaction. Deal Value (US$ Million) 220 Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2009-08-06 Deal Participants Target (Company) Crosstex Energy, L.P. - Assets - Mississippi, Alabama, and South Texas, US Acquirer (Company) Southcross Energy, LLC Vendor (Company) Crosstex Energy, L.P. Deal Rationale The acquisition would provide Southcross Energy strong organic, as well as acquisition, growth prospects. Crosstex would use the proceeds from the sale to pay down more than $200 million of its outstanding debt. For full details on Crosstex Energy (XTXI) click here. Crosstex Energy (XTXI) has Short Term PowerRatings of 6. Details on Crosstex Energy (XTXI) Short Term PowerRatings is available at This Link.
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