APL completes sale of subsidiaries holding interest in pipeline

Atlas Pipeline Partners LP

Atlas Pipeline Partners LP (NYSE: APL) has completed the sale of its subsidiaries holding a 20% interest in the West Texas LPG Pipeline Ltd. Partnership to a subsidiary of Martin Midstream Partners LP (NASDAQ: MMLP) for $135 million.

Proceeds from the sale will be used to reduce the Partnership's outstanding debt. Citigroup Global Markets Inc. acted as financial advisor, and Jones Day acted as legal advisor for this transaction.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...