American Midstream buys storage facilities for $60M, -4.3% AH

American Midstream Partners (AMID) -4.3% AH after agreeing to acquire Blackwater Midstream, a developer and operator of terminal storage facilities, from an affiliate of ArcLight Capital for $60M.

The acquisition includes Blackwater's three operating terminals, which have 1.3M barrels of storage capacity for a variety of products including chemical, agricultural and petroleum liquid products; the revenues are fee-based and almost entirely derived from take-or-pay lease contracts.

To fund the deal, AMID will launch a public offering of 2.4M common units.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs