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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) AUGUST 21, 1996
NGC CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-11156 75-2386657
(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
13430 NORTHWEST FREEWAY
HOUSTON, TEXAS 77040
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (713) 507-6400
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EXHIBIT INDEX - PAGE 4
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ITEM 5. OTHER EVENTS
On August 21, 1996, NGC Corporation ("NGC") executed an agreement with
the staff of the Federal Trade Commission ("FTC") to divest its
interests in certain fractionation assets. The agreement between NGC and
the FTC staff remains subject to approval by the FTC. A copy of NGC's
press release dated August 22, 1996, announcing the agreement with the
FTC staff is annexed hereto as Exhibit 1 and incorporated herein by
reference.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
NGC CORPORATION
(Registrant)
Date: August 27, 1996 /s/ KENNETH E. RANDOLPH
Kenneth E. Randolph
Senior Vice President and
General Counsel
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EXHIBIT INDEX
No.
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99 Press Release, dated August 22, 1996.
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EXHIBIT 99
NR96-24
MEDIA CONTACT: Katherine K. Putnam
713/507-3936
ANALYST CONTACT: R. Dean Ayers
713/507-6852
NGC TO DIVEST FRACTIONATION INTERESTS
UNDER AGREEMENT WITH FTC STAFF
HOUSTON (August 22, 1996) -- NGC Corporation has reached an agreement with
the Federal Trade Commission (FTC) staff to divest its interests in certain
fractionation assets. The agreement is part of the FTC's review of NGC's pending
merger with Chevron Corp.'s Natural Gas Business Unit and Warren Petroleum.
Under the agreement, NGC will sell its 80 percent ownership interest in the
Mont Belvieu I fractionation facility. NGC will also relinquish operatorship of
the Mont Belvieu II fractionation facility, known as Gulf Coast Fractionators,
but will retain its 38.75 percent ownership interest in the plant. Each plant
has a capacity of approximately 110,000 barrels per day (Bbls/d). Both
facilities are located in Mont Belvieu, Chambers County, Texas.
As a result of the merger, NGC will own Warren's nearby Mont Belvieu plant,
which has a capacity of approximately 165,000 Bbls/d.
The agreement between NGC and FTC staff remains subject to approval by the
FTC. Unless the full FTC overturns the agreement with FTC staff, NGC will be
permitted to complete the merger on Aug. 31.
NGC Corporation (NYSE:NGL) is a leading gatherer, processor, transporter
and marketer of energy products and services in North America and the United
Kingdom. Through its "Energy Store," NGC offers a multi-commodity
energyproduct-and-services resource that provides natural gas, natural gas
liquids, electricity and crude oil.
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