A $400 million deal means increased ownership in the Rockies Express Pipeline LLC by Leawood, Kansas-based Tallgrass Energy Partners, LP.
The purchase of 24.99 percent was made from Tallgrass Development AP and gives Tallgrass Energy a nearly 50 percent interest in the line.
The deal will also result in Tallgrass Energy getting part of a $150 million settlement of a legal fight between Rockies Express Pipeline and Houston-based Ultra Resources Inc.
Ultra filed for Chapter 11 reorganization last year and REX leveled a $303 million breach of contract claim against Ultra. The settlement was approved by a bankruptcy judge.
