One-Page Deal Sheet
Crestwood Completes Marcellus Transaction
Crestwood Midstream Partners Lp Crestwood Holdings Partners Llc
Announced Date
August 08,2013
Close Date
August 08,2013
Transaction Type
Asset
Transaction Details: Require Private Equity Subscription
Crestwood Midstream Partners LP announced today that it has purchased the remaining 65% interest in Crestwood Marcellus Midstream LLC (“CMM”) from Crestwood Holdings Partners LLC (“Crestwood Holdings”) for $258 million. The transaction is expected to be 7-8% accretive to Crestwood’s 2013 distributable cash flow on a fully diluted basis and was funded with $129 million of cash drawn on Crestwood’s existing revolving credit facility and approximately 6.2 million new Crestwood Class D units (“Class D Units”) issued to Crestwood Holdings. As a part of the consideration received for the…