HOUSTON, Jan. 3, 2019 /PRNewswire/ -- American
Midstream Partners, LP (NYSE: AMID) ("AMID" or "Partnership") today
announced that the Board of Directors of American Midstream GP, LLC
("GP Board") has received a revised non-binding proposal from an
affiliate of ArcLight Energy Partners Fund V, L.P. ("ArcLight"),
directed to members of the Conflicts Committee 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 a revised offer price of $4.50 per common unit. The other proposed
terms of the potential transaction remain as set forth in the
original non-binding proposal announced on September 28, 2018.
The proposed transaction remains 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, condensate
and specialty chemicals 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
3.0 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," "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, costs associated with consideration
and execution of any proposed transaction, and changes in market
and industry conditions, 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
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SOURCE American Midstream Partners, LP