EXCO Resources (XCO) Enters into Exclusive TGGT Stake Sale Agreement; Seeks $400M in Deal

EXCO Resources, Inc. (NYSE: XCO) today announced that it has entered into an agreement granting a forty-five day exclusivity period to an unaffiliated private infrastructure fund to negotiate the sale of a one-third equity interest in TGGT Holdings, LLC. EXCO anticipates that an affiliate of BG Group plc will participate in the sale transaction on a pro rata basis. EXCO expects a purchase price in excess of $400.0 million for the equity interest. TGGT Holdings, LLC owns and operates midstream gathering and transportation assets in East Texas and North Louisiana and is a joint venture entity owned 50/50 by affiliates of EXCO Resources, Inc. and BG Group plc.

There is no assurance that this or any other transaction involving TGGT Holdings, LLC will be completed. EXCO Resources, Inc. does not intend to update the market with any further information on this process unless and until a definitive agreement is entered into among the parties or further disclosure is otherwise deemed appropriate.

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