American Midstream enters definitive agreement to sell its refined products terminals

American Midstream Partners (AMID) has entered into a definitive agreement for the sale of its refined products terminalling business (Refined Products Terminals) to Sunoco, for approximately $125m. The transaction is expected to close in the fourth quarter of 2018.

The divestiture of the Refined Products Terminals, located in Caddo Mills, Texas and North Little Rock, Arkansas, represents continued progress towards American Midstream’s capital allocation strategy designed to reduce leverage and strengthen the partnership. “In addition, the divestiture of the Refined Products Terminals simplifies AMID’s business profile while creating capital flexibility,” the company said in a statement.

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

For more information visit www.americanmidstream.com

16th November 2018