Southcross Energy Partners, L.P. Terminates Merger with American Midstream Partners
SOUTHCROSS ENERGY (SXE)
Last southcross energy earnings: 5/10 06:05 am
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US:NYSE Investor Relations:
investors.southcrossenergy.com
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Source: GlobeNewswire
DALLAS, Texas, July 30, 2018 (GLOBE NEWSWIRE) -- Southcross Energy Partners, L.P. (NYSE:SXE) (“Southcross Energy”) announced today that, effective July 29, 2018, it has terminated the previously announced Agreement and Plan of Merger, dated as of October 31, 2017, with American Midstream Partners, LP (NYSE:AMID) (“AMID”) whereby AMID had proposed to merge Southcross Energy into a wholly owned subsidiary of AMID. Consistent with its rights and obligations under the merger agreement, Southcross Energy provided written notice terminating the merger due to AMID’s failure to achieve conditions required under the merger agreement. In addition, effective July 29, 2018, Southcross Energy’s parent, Southcross Holdings LP (“Southcross Holdings”) has terminated the previously announced Contribution Agreement, dated as of October 31, 2017, with AMID as a result of a funding failure by AMID. Under the terms of the Contribution Agreement, Southcross Holdings is entitled to receive a $17 millio
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