NII completed its acquisition of Permian Corp.

Pittsburgh-based National Intergroup purchased Permian, one of the largest independent crude oil gathering companies in the United States, for $172 million in common stock and cash. Permian will be operated as a wholly owned subsidiary of NII. Wesray Capital principals and affiliates now own about 9.9% and other former Permian shareholders about 3% of NII’s 23.3 million common shares outstanding. Wesray is controlled by former Treasury Secretary William E. Simon.