American Midstream Closes Sale of Marine Products Terminals, Receives Liquidity Upgrade from Moody's and Provides Update on Previously Announced Transactions
Argent Mid Cap ETF (AMID)
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US:NYSE Investor Relations:
americanmidstream.com/investor-relations
Company Research
Source: PR Newswire
HOUSTON, Aug. 1, 2018 /PRNewswire/ -- American Midstream Partners, LP (NYSE: AMID) ("AMID" or "Partnership") today announced the closing of its previously announced sale of its marine products terminalling business (the "Marine Products Terminals") to institutional investors advised by J.P. Morgan Asset Management for approximately $210 million in cash.The divestiture of the Marine Products Terminals, including the Harvey and Westwego terminals located in the Port of New Orleans and the Brunswick terminal located in the Port of Brunswick in Georgia, is a continuation of the Partnership's previously announced non-core asset divestiture program. The successful completion of this transaction strengthens the Partnership's balance sheet and supports its deleveraging plan, while demonstrating the Partnership's ability to execute on its revised capital allocation strategy. The proceeds of this sale will initially go toward reducing indebtedness under the Partnership's revolving credit facili
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