DALLAS, October 23, 2014 -- On October 22, 2014, EnLink Midstream Partners, LP (NYSE: ENLK) (“ENLK” or the “Partnership”) announced that it acquired equity interests in E2 Appalachian Compression, LLC and E2 Energy Services, LLC (together “E2”) from EnLink Midstream, LLC (NYSE: ENLC) (“ENLC” or the “General Partner”). The total consideration for the transaction is approximately $193 million, including a cash payment of $163 million and approximately 1.0 million ENLK units. ENLC expects to use the majority of the cash it received in the transaction to repay indebtedness. This transaction marks the first drop down from ENLC to ENLK as part of the Partnership’s strategic growth plan.
Baker Botts represented EnLink Midstream, LLC in the drop down.
Baker Botts Lawyers/Office Involved: Doug Rayburn (Partner, Dallas); Steve Marcus (Partner, Dallas), Preston Bernhisel (Senior Associate, Dallas), Ryan Scofield (Associate, Dallas)
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