A couple of quick points from the presentation which is on their website. They will still have $400+mm of debt. The distribution for NRGY post-sale without the propane business will be $1.15-1.20. Nothing about tax consequences.
The presentation was a little unclear about the distribution. So the remaining shares of NRGY are expected to distribute $1.14 (annual) and on top of that, the acquired SPH shares are going to distribute another $1.50? Or, is the total distribution from both shares going to be $1.50?