News / GIP sells stake in Access Midstream Partners

GIP sells stake in Access Midstream Partners

🕔 August 16, 2013
ACS sells majority stake in police stations in Spain

On 13 August 2013, Access Midstream Partners LP began an underwritten secondary public offering of 8,000,000 common units representing limited partner interests owned by Global Infrastructure Partners IIGIP II offered the units to the public at $46.47 and has granted the underwriter a 30-day option to purchase up to 1.2 million additional common units. The total stake is therefore valued at around $372 million.

Barclays is acting as sole underwriter for the offering that will be made under the company's effective shelf registration statement filed earlier with the US Securities and Exchange Commission.

Access Midstream Partners, L.P. (ACMP) is a growth oriented midstream natural gas and liquids infrastructure provider focused on owning, operating, developing and acquiring midstream energy assets in the United States. ACMP provides natural gas and liquids gathering, treating, compression, processing and other midstream services to producers under long-term, fixed-fee contracts. Headquartered in Oklahoma City, ACMP's operations are concentrated in the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica Shales and Mid-Continent region of the U.S.

ACMP was founded as a joint venture between GIP and Chesapeake Energy Corporation in 2009.

In December 2012, GIP's first fund sold its 50% interests in ACMP's general partner and ~34.5 million subordinated limited partner units to The Williams Companies, Inc., representing all of the remaining interest owned by that fund.

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