Atlas Pipeline Partners (NYSE:APL) entered into a definitive agreement to sell Elk City System for $682 Million to Enbridge Energy Partners (NYSE:EEP), L.P. The transaction will eliminate virtually all senior secured debt and significantly deleverage Atlas Pipeline’s balance sheet. The resulting liquidity will allow the Partnership to reinstate distributions to unitholders. The 2011 EBITDA pro forma for the transaction is anticipated to be between $160 million and $200 million for The Partnership, with expected organic growth providing for 2014 EBITDA of greater than $350 million.
On the news, shares of Atlas Pipeline Partners are up 31% and Atlas Pipeline Holdings (AHD) is up 25.7%.
Wyndham Worldwide (NYSE:WYN) posted second quarter 2010 diluted earnings per share of $0.51, compared with company-issued guidance of $0.38 to $0.42 and $0.39 in the second quarter of 2009.
The Company increased full-year 2010 guidance with revenues upped to $3.7 to $4.0 billion from $3.6 to $3.9 billion, adjusted EBITDA increased to $825 to $860 million from $805 to $840 million, and adjusted diluted EPS increased to $1.78 to $1.88 from $1.56 to $1.71.
Shares of Wyndham are up 10.5%.
Terra Nitrogen Company (NYSE:TNH) today declared a cash distribution for the quarter ended June 30, 2010, of $2.36 per common limited partnership unit payable August 25, 2010, to holders of record as of August 10, 2010.
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