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American Midstream to Sell Its Refined Products Terminals for $138 Million, Texas

Published: February 22, 2018 |

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American Midstream Partners has agreed to sell its refined products terminalling business to DKGP Energy Terminals, a joint venture between Delek Logistics Partners and Green Plains Partners, for about $138.5m.

The transaction is expected to close in the first half of 2018.

The divestiture of the Refined Products Terminals, located in Caddo Mills, Texas and North Little Rock, Arkansas, represents meaningful progress towards redeploying capital to complementary assets, including Southcross, and other strategic growth opportunities.

In addition, the divestiture of the Refined Products Terminals simplifies AMID’s business profile while creating capital flexibility.

The Partnership anticipates it will also execute sales of additional terminal assets, including its marine and specialty chemical storage facilities, as well as other potential non-core assets, as the Partnership redeploys capital into higher growth assets.

“This transaction demonstrates AMID’s continued execution on its capital optimization strategy of simplifying its business and redeploying capital from non-core assets toward complementary and strategic opportunities,” said American Midstream Partners President and CEO Lynn Bourdon III.

Closing of the sale of the Refined Products Terminals is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act.

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

Source: Energy Business Review


To stop by American Midstream’s website, CLICK HERE


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