TransMontaigne Partners L.P. Receives Buyout Offer from ArcLight
11 Julio 2018 - 10:19AM
Business Wire
TransMontaigne Partners L.P. (NYSE:TLP) (the "Partnership")
announced today that the Board of Directors of TransMontaigne GP
L.L.C. (the "GP Board") has received a non-binding proposal from
affiliates of ArcLight Energy Partners Fund VI, L.P. ("ArcLight"),
directed to the Conflicts Committee (the "Conflicts Committee") of
independent directors of the GP Board, pursuant to which ArcLight
would acquire through a subsidiary all common units of the
Partnership that ArcLight and its affiliates do not already own in
exchange for $38.00 per common unit. If approved, the transaction
would be effected through a merger of the Partnership with a
subsidiary of ArcLight.
The proposed transaction is subject to a number of
contingencies, including ArcLight’s completion of due diligence,
the approval of the Conflicts Committee, the approval by holders of
a majority of the outstanding common units of the Partnership and
the satisfaction of any conditions to the consummation of a
transaction set forth in any definitive agreement concerning the
transaction. There can be no assurance that definitive
documentation will be executed or that any transaction will
materialize.
Forward-Looking Statements
This press release includes statements that may constitute
forward-looking statements. Although the Partnership believes that
the expectations reflected in such forward-looking statements are
based on reasonable assumptions, such statements are subject to
risks and uncertainties pertaining to timing and completion of the
transaction. A number of factors could cause actual results to
differ materially from the Partnership’s expectations. See “Item
1A. Risk Factors” in the Partnership’s Annual Report on Form 10-K
for the year ended December 31, 2017, filed with the Securities and
Exchange Commission on March 15, 2018. Except as required by law,
the Partnership undertakes no obligation to publicly update or
revise any forward-looking statements.
About TransMontaigne Partners L.P.
TransMontaigne Partners L.P. is a terminaling and transportation
company based in Denver, Colorado with operations in the United
States along the Gulf Coast, in the Midwest, in Houston and
Brownsville, Texas, along the Mississippi and Ohio Rivers, in the
Southeast and on the West Coast. We provide integrated terminaling,
storage, transportation and related services for customers engaged
in the distribution and marketing of light refined petroleum
products, heavy refined petroleum products, crude oil, chemicals,
fertilizers and other liquid products. Light refined products
include gasolines, diesel fuels, heating oil and jet fuels, and
heavy refined products include residual fuel oils and asphalt. We
do not purchase or market products that we handle or transport.
News and additional information about TransMontaigne Partners L.P.
is available on our website: www.transmontaignepartners.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180711005592/en/
TransMontaigne Partners L.P.Frederick W. Boutin,
303-626-8200Chief Executive OfficerorRobert T. Fuller,
303-626-8200Chief Financial Officer
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