HOUSTON, Sept. 28, 2018 /PRNewswire/ -- American Midstream
Partners, LP (NYSE: AMID) ("AMID" or "Partnership") today announced
the Board of Directors of American Midstream GP, LLC ("GP Board")
has received an unsolicited non-binding proposal from affiliates of
ArcLight Energy Partners Fund V, L.P. ("ArcLight"), directed to
members of the GP Board, pursuant to which ArcLight would acquire
all common units of the Partnership that ArcLight and its
affiliates do not already own in exchange for $6.10 per common unit. If approved, it is
currently expected that the transaction would be consummated
through a merger of the Partnership with a subsidiary of
ArcLight.
The proposed transaction is subject to a number of
contingencies, including the approval of the Conflicts Committee of
the GP Board, the approval by holders of a majority of the
outstanding common units of the Partnership, and the satisfaction
of any conditions to the consummation of a transaction set forth in
any definitive agreement concerning the transaction. There
can be no assurance that definitive documentation will be executed
or that any transaction will materialize on the terms described
above or at all.
About American Midstream Partners, LP
American Midstream Partners, LP is a growth-oriented limited
partnership formed to provide critical midstream infrastructure
that links producers of natural gas, crude oil, NGLs and condensate
to end-use markets. American Midstream's assets are strategically
located in some of the most prolific offshore and onshore basins in
the Permian, Eagle Ford, East
Texas, Bakken and Gulf Coast. American Midstream owns or has
an ownership interest in approximately 5,100 miles of interstate
and intrastate pipelines, as well as ownership in gas processing
plants, fractionation facilities, an offshore semisubmersible
floating production system with nameplate processing capacity of 90
MBbl/d of crude oil and 220 MMcf/d of natural gas; and terminal
sites with approximately 4.3 MMBbls of storage capacity.
For more information about American Midstream Partners, LP,
visit: www.americanmidstream.com. The content of our website is not
part of this release.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended. We have used the words
"could," "expect," "intend," "may," "strive," "will," "would," and
similar terms and phrases to identify forward-looking statements in
this press release. Although we believe the assumptions upon which
these forward-looking statements are based are reasonable, any of
these assumptions could prove to be inaccurate and the
forward-looking statements based on these assumptions could be
incorrect. Many of the factors that will determine these results
are beyond our ability to control or predict. These factors include
the negotiation and execution of definitive agreements relating to
the proposed transaction, the ability of the parties to consummate
any transaction, the failure to achieve approval of the
unitholders, the timing of any transaction, and the costs
associated with consideration and execution of any proposed
transaction, as well as the risk factors described in Part I, Item
1A. in our Annual Report on Form 10-K for the year ended
December 31, 2017, filed with the SEC
on April 9, 2018, and our other
filings with the SEC. All future written and oral forward-looking
statements attributable to us or persons acting on our behalf are
expressly qualified in their entirety by the previous statements.
The forward-looking statements herein speak as of the date of this
press release. We undertake no obligation to update such statements
for any reason, except as required by law.
Investor Contact
American Midstream Partners, LP
Mark Schuck
Director of Investor Relations
(346) 241-3497
ir@americanmidstream.com
View original
content:http://www.prnewswire.com/news-releases/american-midstream-receives-buyout-offer-from-arclight-300720894.html
SOURCE American Midstream Partners, LP