TEGP

AcronymDefinition
TEGPTexas Educational Grid Project, Inc. (computer engineering)
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In March, Tallgrass Energy GP and Tallgrass Energy Partners inked a definitive agreement pursuant to which TEGP will acquire the approximately 47.6m TEP common units held by the public in a taxable stock-for-unit merger transaction at a ratio of 2.0 TEGP class A shares for each outstanding TEP common unit.
The merger agreement has been unanimously approved by the board of directors of TEGP's general partner, the conflicts committee of the board of directors of TEP's general partner and the board of directors of TEP's general partner.
Under the terms of the merger agreement, TEGP will acquire the approximately 47.6 m TEP common units held by the public at a fixed exchange ratio of 2.0 TEGP class A shares for each outstanding common unit.
In addition, Tallgrass announced it is beginning an evaluation of potential reorganisation alternatives involving TEGP and TEP.
Tallgrass said this acquisition represents an accretive transaction for Tallgrass Equity and TEGP.
The TEGP equity consideration utilises its most effective cost of equity at this time, and likely addresses Tallgrass Energy's foreseeable equity capital requirements for currently known financing needs during 2018 and 2019.
In conjunction, this represents a sequential improvement of 7.1% from TEGP's second quarter 2016 distribution and 82.3% from the third quarter 2015 distribution, respectively.
Kansas-based gas pipeline operator Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP (NYSE: TEGP) have updated guidance for FY16 as a result of TEP's recent acquisition of a 25% membership interest in Rockies Express Pipeline LLC, Tallgrass said.
18 May 2016 - Kansas-based gas pipeline operator Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP (NYSE: TEGP) have updated guidance for FY16 as a result of TEP's recent acquisition of a 25% membership interest in Rockies Express Pipeline LLC, Tallgrass said.
Tallgrass Development is a subsidiary of Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP (NYSE: TEGP).
Also, the board of directors of TEGP's general partner declared a quarterly distribution of USD0.21 per Class A share (USD0.84, annually) for the Q1 2016.
Additionally, the board of directors of Tallgrass Energy GP (TEGP) general partner declared its distribution of USD0.173 per Class A share for the Q4 of 2015, or USD0.692 on an annual basis.