Targa Resources Partners (NGLS) Announces $50 Million Buyback Plan
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Targa Resources Partners LP (Nasdaq: NGLS) announced that the Board of Directors of Targa Resources GP LLC, its general partner, has authorized a program for the Partnership to repurchase up to $50 million in value of its common units from time to time through December 31, 2009 in open market transactions, including block purchases, or in privately negotiated transactions. The unit repurchase program authorizes the Partnership to make repurchases on a discretionary basis as determined by its management subject to market conditions, applicable legal requirements, available liquidity and other appropriate factors as determined by such officers.
Targa Resources Partners LP (Targa) is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States, to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets.
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