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XTXI > SEC Filings for XTXI > Form 8-K on 7-Oct-2009All Recent SEC Filings

Show all filings for CROSSTEX ENERGY INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for CROSSTEX ENERGY INC


7-Oct-2009

Completion of Acquisition or Disposition of Assets


Item 2.01. Completion of Acquisition or Disposition of Assets.
Crosstex Energy, Inc. (the "Registrant") owns the two percent general partner interest, a 33 percent limited partner interest and the incentive distribution rights of Crosstex Energy, L.P. (the "Partnership").
On October 1, 2009, Crosstex Energy Services, L.P. and Crosstex Energy Services GP, LLC (collectively, the "Sellers"), subsidiaries of the Partnership, completed the sale of the Partnership's natural gas treating business, consisting of all of the partnership interests of Crosstex Treating Services, L.P. (the "Transferred Assets") to KM Treating GP LLC, a subsidiary of Kinder-Morgan Energy Partners, L.P. (the "Purchaser") pursuant to the terms of the Partnership Interest Purchase and Sale Agreement dated August 28, 2009 (the "Purchase Agreement"). At closing the Purchaser paid an amount in cash equal to approximately $265.4 million, which includes price adjustments provided for in the Purchase Agreement, and which is subject to further post-closing adjustments as provided for in the Purchase Agreement. The Registrant previously announced the entry into the Purchase Agreement in its Current Report on Form 8-K filed with the Securities and Exchange Commission on September 3, 2009. Item 7.01. Regulation FD Disclosure.
On October 1, 2009, the Partnership issued a press release (the "Press Release") reporting the sale of the Transferred Assets. A copy of the Press Release is furnished as exhibit 99.1 to this Current Report. In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 7.01 and in the attached exhibit 99.1 are deemed to be furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
Item 9.01. Financial Statements and Exhibits.
(b) Pro Forma Financial Information. The unaudited pro forma consolidated Statement of Operations for the year ended December 31, 2008 and the six months ended June 30, 2009 and the unaudited pro forma condensed Consolidated Balance Sheet as of June 30, 2009 giving effect to the sale of the Transferred Assets are included as exhibit 99.2.
(d) Exhibits. In accordance with General Instruction B.2 of Form 8-K, the information set forth in the attached exhibit 99.1 is deemed to be furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act.

    EXHIBIT
     NUMBER                 DESCRIPTION

      99.1           -      Press Release dated October 1, 2009 (incorporated by
                            reference to Exhibit 99.1 to Crosstex Energy, L.P.'s
                            current report on Form 8-K dated October 1, 2009, filed
                            with the Commission on October 7, 2009).
      99.2           -      Unaudited pro forma consolidated Statement of Operations
                            for the year ended December 31, 2008 and the six months
                            ended June 30, 2009 and unaudited pro forma condensed
                            Consolidated Balance Sheet as of June 30, 2009.


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