The board of directors of Exterran Holdings, Inc. has unanimously authorized management to pursue a plan to separate the company's international contract operations, international aftermarket services and global fabrication businesses into a standalone, publicly traded company (SpinCo), resulting in two independent companies.
Upon completion of the transaction, Exterran Holdings (RemainCo) will be a pure-play U.S. compression services business. RemainCo will hold interests in Exterran Partners, L.P., which include the sole general partner interest and certain limited partner interests that together currently represent a 37 percent ownership interest in Exterran Partners, as well as all of the incentive distribution rights in Exterran Partners.