APL completes sale of interest in pipeline
Atlas Pipeline Partners LP has completed the sale of its subsidiaries holding a 20% interest in the West Texas LPG Pipeline Ltd. Partnership to a subsidiary of Martin Midstream Partners LP for US$ 135 million.
Proceeds from the sale will be used to reduce the Partnership's outstanding debt. Citigroup Global Markets Inc. acted as financial advisor, and Jones Day acted as legal advisor for this transaction.
Atlas Pipeline Partners, LP is active in the gathering and processing segments of the midstream natural gas industry. In Oklahoma, southern Kansas, Texas, and Tennessee, APL owns and operates 15 active gas processing plants, 18 gas treating facilities, as well as approximately 11 200 miles of active intrastate gas gathering pipeline.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/business-news/16052014/apl_completes_sale_of_interest_in_pipeline/
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