On XXXXX, 2016 Targa Resources Corp (NYSE:TRGP) acquired all of the outstanding common units of Targa Resources Partners (NYSE: NGLS) that it did not already own. All of Targa Resources Partners’ debt and preferred equity remains outstanding under their current terms. Our ownership of all of the common equity in Targa Resources Partners entitles to 100% of Partnership distributable cash flow after paying NGLS debt and preferred distributions.
Targa Resources Partners is a leading provider of midstream natural gas and natural gas liquid services in the United States. Our primary business objective is to increase our dividends to our stockholders by assisting the Partnership in executing its business strategy. Our cash flows are generated from the cash distributions we receive from the Partnership.
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Targa Resources Corp. and Targa Resources Partners LP will provide any respective shareholder or unitholder with a printed copy of it's latest Form 10-K free of charge upon request. Such requests should be directed in writing to Targa Resources, Attention: Investor Relations, 1000 Louisiana, Suite 4300, Houston, TX 77002.
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