DALLAS, May 27, 2015 – EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership) today announced that it has acquired the remaining 25 percent limited partner interest in EnLink Midstream Holdings, LP (EMH) from EnLink Midstream, LLC (NYSE: ENLC) (the General Partner) (collectively, with the Partnership, EnLink Midstream) for approximately $900 million of a newly issued class of Partnership common units. The Partnership now holds 100 percent of the limited partner interests of EMH, which owns the assets that Devon Energy Corp. (Devon) contributed to EnLink Midstream in March 2014. These assets include gathering and processing systems in North Texas and Oklahoma, which are supported by long-term, fixed-fee contracts with minimum volume commitments, as well as an economic interest in Gulf Coast Fractionators located in Mont Belvieu, Texas.
Baker Botts, a leading international law firm, represented EnLink Midstream, LLC in the drop-down transaction.
Baker Botts Lawyers/Office Involved:
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