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Azure Midstream Partners, LPNYSE
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  • Jan. 15, 2015, 7:48 AM
    • Marlin Midstream Partners (NASDAQ:FISH) agrees to acquire Azure Midstream Energy's legacy gathering system for $162.5M, and Marlin's general partner and 90% of its incentive distribution rights will be acquired by Azure.
    • FISH expects the combined partnership to generate 2015 EBITDA of $47M-$53M and to have a total enterprise value of more than $500M.
    • FISH expects the dropdown acquisition is expected to be immediately accretive to its distributable cash flow and to enable it to increase its 2015 distribution to $1.65-$1.80/unit, up 18% from the mid-point of the range.
    | Jan. 15, 2015, 7:48 AM