SemGroup to fund Mid-America purchase with facilities draw

By Tali David

Minneapolis, May 1 - SemGroup Corp. said it will draw on its existing committed credit facilities to fund the $300 million acquisition of the equity interests of Mid-America Midstream Gas Services, LLC, a wholly owned subsidiary of Chesapeake Energy Corp., according to a press release.

The transaction is expected to close by the third quarter of 2013 and is subject to certain regulatory approvals and closing conditions.

Based in Tulsa, SemGroup provides transportation, distribution and marketing services to producers and refiners of petroleum products.

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