I'm a little confused as to which entity will be the future acquirer of companies with this structure. NRGP will supposedly rely on distribution cash flow from NRGY to maintain its value. Yet it will be cash rich once NRGP units hit the market. The only other use for the cash could be to retire debt the GP took on to liquidate some of its members. Note that the core management team vows to remain fully invested.
Taking the GP public has apparently been accomplished with several pipeline MLPs but this is the first for a propane distributor. It should be interesting to watch the interaction between the two entities.
Thank you very much. I have read until I am bleary eyed. Do you have any idea when this will go public ? Originally, I heard "sometime in the second quarter." There is now only one more month left in the second quarter.