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SemGroup Corporation to Sell Mexican Asphalt Business for $70 Million

Jan 08, 2018 - GlobeNewswire

TULSA, Okla., Jan. 08, 2018 (GLOBE NEWSWIRE) -- SemGroup® Corporation (NYSE:SEMG) today announced that it has reached an agreement to sell its asphalt business, SemMaterials México, to Ergon Asfaltos México HC, LLC, for an estimated $70 million including a reimbursement of approximately $15 million of net working capital, subject to customary post-closing adjustments. SemGroup intends to use proceeds from the sale toward its capital raise plan associated with the acquisition of Housto...