MSD Capital LP bought 123,200 shares of common stock of the Tulsa-based energy partnership and took on exposure to another 519,125 shares in an equity swap. Dell's personal investment fund now owns nearly 2.3 million units of in SGLP, as the company is known by its stock ticker.
Dell is chairman and CEO of Round Rock, Texas-based Dell Inc., a major computer manufacturer.
The move by MSD comes even as SGLP deals with its own credit default and the bankruptcy of its parent company, SemGroup LP, due to huge oil futures trading losses. Dell now owns more than 10 percent of the publicly traded SemGroup subsidiary.
MSD Capital bought the 123,200 units of common stock at about $9.98 per unit, according to a Securities and Exchange Commission document released this week. Last week, the fund took over the 519,125 units in an equity swap with New York-based Citibank, according to the SEC filing.
Copyright 2008 The Associated Press.
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No news here , a smart Texan steps in where Okies fail ...this is OLD news.
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