Southcross Sells Corpus Christi and Alabama-Mississippi Pipelines

Updated 1 year 7 months ago

A Delaware bankruptcy court approved the asset purchase agreements with Kinder Morgan for Southcross Energy’s natural gas pipeline network in Corpus Christi, Texas, for  $76 million and Magnolia Infrastructure for pipelines and related assets that Southcross owns in Mississippi and Alabama for $31.5 million and are expected to close in November and before year-end respectively.

Until the transactions close, Southcross will continue operating as it has throughout the court-supervised process. A court hearing on the disclosure statement is scheduled for November 6, 2019 and a confirmation hearing has been scheduled for December 9, 2019.