SHARE

Regency Energy Partners LP has announced they are moving forward with acquisition of PVR Partners LP after the boards of both companies approved the agreement.

Regency will acquire PVR for $5.6 billion, with the assumption of $1.8 billion of net debt.

The deal, which is expected to close in 1Q 2014, give Regency the ability to create a gas gathering and processing platform in Appalachia, West Texas, South Texas, the Midcontinent, and North Louisiana, namely the Utica and Marcellus shales.

Michael J. Bradley will continue as President and CEO while Thomas E. Long will continue as Executive Vice-President and CFO of the company.