Natural Gas Utilities

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American Midstream acquires Costar Midstream

Tuesday, 14 Oct 2014 01:50pm EDT

American Midstream Partners, LP:Acquires Costar Midstream LLC (Costar) from Energy Spectrum Partners VI LP and Costar management for about $470 million.Costar is an onshore gathering and processing company with its primary gathering, processing, fractionation, and off-spec condensate treating and stabilization assets in East Texas and the prolific Permian basin.Says acquisition was funded with 6.9 million American Midstream common units issued directly to Energy Spectrum and Costar senior management, and $272 million of cash from borrowings under the Partnership's revolving credit facility and proceeds from the August 2014 private placement of common units.Says acquisition closed Oct. 14.

Targa Resources Partners LP and Targa Resources Corp. to acquire Atlas Pipeline Partners, L.P. and Atlas Energy, L.P

Monday, 13 Oct 2014 07:40am EDT

Targa Resources Partners LP and Targa Resources Corp:To Acquire Atlas Pipeline Partners, L.P. and Atlas Energy, L.P.Targa Resources to acquire ATLS following the spin-off by ATLS of its non-midstream assets for total consideration of $1.869 bln.Targa Resources Partners will acquire Atlas Pipeline Partners for total consideration of $5.8 bln.Evercore Partners acted as financial advisor to Targa Resources Partners and the special committee of the Targa Resources Partners' Board of Directors.Richards, Layton & Finger served as legal counsel to the special committee of the Board of Directors of the general partner of Targa Resources Partners.Wells Fargo Securities, LLC acted as financial advisor to Targa Resources Corp. and Vinson & Elkins LLP acted as legal counsel for the Partnership and the Company.BofA Merrill Lynch is providing committed financing to Targa Resources for the transaction.

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