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American Midstream closes sale of refined products terminals

Published by , Editorial Assistant
Hydrocarbon Engineering,

American Midstream Partners LP has announced the closing of its previously announced sale of its refined products terminalling business to Sunoco LP, for approximately US$125 million in cash.

The divestiture of the Refined Products Terminals, located in Caddo Mills, Texas and North Little Rock, Arkansas, US, is a continuation of the partnership's previously announced non-core asset divestiture program. The proceeds of this sale will go toward reducing indebtedness under the partnership's revolving credit facility.

Barclays acted as exclusive financial advisor and Sidley Austin LLP served as legal counsel to American Midstream for the refined products transaction.

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