Press Releases E-mail Article
Printer Friendly
Morgan Stanley to Sell TransMontaigne Ownership Stake to NGL Energy Partners

Jun 9 2014 | New York

 

Morgan Stanley (NYSE: MS) today announced a definitive agreement to sell its ownership stake in TransMontaigne Inc., a U.S.-based oil storage, marketing and transportation company, to NGL Energy Partners LP. 

The sale includes Morgan Stanley’s General Partner and Limited Partner interests in TransMontaigne Partners LP (NYSE: TLP), as well as related physical inventory and the assumption of Morgan Stanley’s obligations under certain terminal storage contracts.

Colm Kelleher, President of Institutional Securities at Morgan Stanley said, “Following this transaction, Morgan Stanley’s leading commodities division will be leaner, more client focused and better aligned with the rest of the Firm’s businesses.  We are excited about its future prospects and look forward to continuing to service the supply and risk management needs of our clients across the oil, power and gas, and metals sectors.”

The transaction, which is expected to result in a gain for Morgan Stanley that is not material to the Firm’s overall financial results, is subject to regulatory approvals in the U.S. and is expected to close in the third quarter of 2014.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.  The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries.  For further information about Morgan Stanley, please visit www.morganstanley.com.

Forward-Looking Statements
The information above contains forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs and which are subject to risks and uncertainties that may cause actual results to differ materially. For a discussion of additional risks and uncertainties that may affect the future results of the Company, please see “Forward-Looking Statements” immediately preceding Part I, Item 1, “Business—Competition” and “Business—Supervision and Regulation” in Part I, Item 1, “Risk Factors” in Part I, Item 1A, “Legal Proceedings” in Part I, Item 3, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 and “Quantitative and Qualitative Disclosures about Market Risk” in Part II, Item 7A in the Company's Annual Report on Form 10-¬K for the year ended December 31, 2013 and other items throughout the Form 10-K, the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014, including “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part I, Item 2,” and the Company’s Current Reports on Form 8-K.

Media Relations Contact: Mark Lake, 212.761.8493



More Press Releases
 Media Inquiries
For media inquiries, send an
e-mail to Media Inquiries
or call us:
Americas: +1 212 761 2448
Europe: +44 20 7425-8005
Japan: +81 3 5424 5013
Asia Pacific: +852 2848-5051