Trust Venture ups offer price for Torch Energy, extends tender offer

By Lisa Kerner

Charlotte, N.C., June 8 - Trust Venture Co., LLC increased the cash tender offer price for all of the outstanding units of beneficial interest of Torch Energy Royalty Trust to $8.25 per unit, from $8.00 per unit.

The tender offer has been extended through midnight ET June 28, from June 7. Approximately 1.6 million units have been tendered as of June 7, according to a company news release.

Torch Energy Royalty Trust is a Wilmington, Del., grantor trust for Torch Royalty Co.

Trust Venture members are Trust Acquisition Co., LLC, a Delaware limited liability company, and Douglas L. Holbrook. Trust Venture currently owns 315,600 units of Torch Energy, or about 3.7% of the units outstanding.

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