Morgan Stanley is close to a deal to sell its stake in its TransMontaigne oil transportation-and-storage business, the Wall Street Journal reported on Friday, citing sources familiar with the matter. The company has narrowed the list of bidders for the establishment that could be worth several hundred million dollars, the newspaper said. (link.reuters.com/sew59v)NGL Energy Partners LP and Buckeye Partners LP are among the companies that have held discussions with Morgan Stanley regarding the deal, the Journal said.Officials at TransMontaigne expect to have a deal in the next few months, the newspaper reported.Morgan Stanley had launched a formal effort in December to sell its controlling stake in TransMontaigne, while it sold the majority of its global physical oil trading operations to Russian state-run oil major Rosneft.
Buckeye Partners, L.P. (Buckeye) is a master limited partnership. Shares of BPL fell by 0.16% or $-0.13/share to $78.66. In the past year, the shares have traded as low as $62.00 and as high as $81.15. On average, 307678 shares of BPL exchange hands on a given day and today's volume is recorded at 197066.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.33% or $0.1/share to $30.49. In the past year, the shares have traded as low as $23.83 and as high as $33.52. On average, 12350600 shares of MS exchange hands on a given day and today's volume is recorded at 5140011.
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