American Midstream receives revised buyout offer from ArcLight
Published by Alex Hithersay,
Editorial Assistant
Hydrocarbon Engineering,
American Midstream Partners LP (the Partnership) has 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 US$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 28 September 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 materialise on the terms described above or at all.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/04012019/american-midstream-receives-revised-buyout-offer-from-arclight/
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