Denbury Resources Inc. is selling its stake in Encore Energy Partners LP to Vanguard Natural Resources LLC for $380 million in cash and stock, the companies said Wednesday.
The price includes at least $300 million in cash and up to $80 million in Vanguard common units. The sale is expected to close around Dec. 31. When the deal is complete, Vanguard will own Encore's general partner and a 46 percent stake in the company, or about 20.9 million units of Encore.
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Source: Bloomberg
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