Boston, MA 05/28/2014 (wallstreetpr) – The leading financial service providing company Morgan Stanley (NYSE:MS) is known for offering some of the best services and products in all over the world. Recently there were certain rumors about a deal that is likely to happen in some time. According to the reports, MS is going to sell its stake in TransMontaigne.
On the basis of information gathered from the trusted sources, the company has already shortlisted the probable bidders who can afford to buy the stake that is worth of few hundred million dollars. Some of the major names among these bidders are Buckeye Partners LP and NGL Energy Partners LP. The management of Morgan Stanley (NYSE:MS) has already conducted an initial discussion with the representatives of both the companies.
If everything goes fine, then the deal might get closed in the next couple of months. Please note that MS first time thought about selling its stake in TransMontaigne in the month of December, just after selling its global physical oil trading entity to Rosneft; a major Russian state-run oil company. Everything was done as a strategically taken move.
The financial giant Morgan Stanley (NYSE:MS) has been looking to sell all of its physical trading commodities entities spread across the globe due to increased regulatory pressure and financial requirements. The bank thinks that the fund used in the various operational activities at the oil and gas entities can be used in other things that might give better returns in coming months.
Please note that the storage capacity of the TransMontaigne is 24 million barrels. It contains 48 fuel terminals in Florida, USA. When asked for commenting on the news, none of the Morgan Stanley, TransMontaigne or any other company’s representatives decided to speak. Well, the picture will be clear in some time, till then all the investors and interested parties will have to wait.
