American Midstream Receives Revised Buyout Offer from ArcLight

Data : 03/01/2019 @ 19:13
Fonte : PR Newswire (US)
Ativo : American Midstream Partners, LP Common Units Representing Limited Partner Interests (AMID)
Cotação : 5.24  0.0 (0.00%) @ 20:59
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American Midstream Receives Revised Buyout Offer from ArcLight

American Midstream Partners, LP Common Units Representing Limited Partner Interests (NYSE:AMID)
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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

 

Cision View original content:http://www.prnewswire.com/news-releases/american-midstream-receives-revised-buyout-offer-from-arclight-300772683.html

SOURCE American Midstream Partners, LP

Copyright 2019 PR Newswire

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