Archrock Inc. (NYSE: AROC) has completed its spin-off of the international services and global fabrication businesses of Exterran Holdings Inc. into a new, publicly traded company, Exterran Corp., through the distribution of all the shares of Exterran Corp. common stock to the holders of Exterran Holdings common stock.
In connection with the completion of the spin-off, Exterran Holdings Inc. was renamed Archrock Inc. and will begin “regular way” trading on the New York Stock Exchange today under the symbol “AROC.” Following the completion of the spin-off, Archrock Inc. will provide natural gas contract compression services to customers throughout the US and supply aftermarket services to customers that own compression equipment in the US.
Archrock Partners (NASDAQ:APLP), formerly known as Exterran Partners LP, today announced that its name has changed in connection with the spin-off and that its trading symbol on the Nasdaq Global Select Market has changed from EXLP to “APLP.” Archrock Inc. continues to own an equity interest, including all of the general partner interest, in Archrock Partners. Archrock Partners provides natural gas contract compression services to customers throughout the US.
To effect the spin-off, each Exterran Holdings shareholder received one share of Exterran Corp. common stock for every two shares of Exterran Holdings common stock held as of 5 p.m., Eastern Time, on Oct. 27, the record date for the spin-off. Exterran Corp. is now an independent, publicly traded company that will begin “regular way” trading on the NYSE today under the symbol “EXTN.”