Vulcan Capital Sells Stake in PAA Natural Gas Storage

Vulcan Capital has sold its 50% stake in PAA Natural Gas Storage LLC to Plans All American Pipeline (NYSE: PAA). The deal is valued at $220 million, including $90 million in cash, $40 million in deferred contingent cash consideration 1.9 million PAA common units valued at $90 million. PAA Natural Gas Storage is a joint venture Vulcan launched with PAAP back in 2005.

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