TransMontaigne Partners LP said it has signed a binding letter of intent with Rio Vista Energy Partners LP to acquire Rio Vista's terminal facility in Matamoros, Mexico, that includes two pipelines with associated rights of way and easements from Brownsville TX to Matamoros.
The agreement also includes a permit to distribute liquefied petroleum gas (LPG) to Mexico's state-owned petroleum company. The total purchase price for the LPG assets is $10.5 million, subject to adjustments at closing. The transaction is expected to close during the fourth quarter of 2007.