News: CorEnergy Buying GIGS System $CORR

CorEnergy Infrastructure Trust, Inc.. has announced to acquire the 100% stake of the Grand Isle gathering System (GIGS). GIGS is a sub sea pipeline system with required facilities to provide fuel to all the oil producing fields in Gulf of Mexico.

The Cost of deal would be $245 Million in cash. The will also increase the dividend prior to he deal.

View the full release here.