One-Page Deal Sheet
Summit Midstream Acquires Interest in Markwest, EMG JV
Summit Midstream Partners, Lp Energy & Minerals Group, Markwest Energy Partners, L.P.
Announced Date
June 03,2014
Close Date
June 03,2014
Transaction Type
JV
Location
Region
Northeast
Country
United States
State
Ohio
County
Harrison ,Guernsey ,Belmont ,Noble ,Monroe
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Transaction Details: Require Private Equity Subscription
Summit Midstream Partners, LLC, the privately held company that owns and controls the general partner of Summit Midstream Partners, LP (SMLP), and MarkWest Energy Partners, L.P. has announced that a subsidiary of Summit Investments has exercised its option to acquire a 40.0% equity interest in Ohio Gathering Company, L.L.C. and Ohio Condensate Company, L.L.C. from affiliates of MarkWest and The Energy & Minerals Group.
In connection with the exercise of this option, Summit Investments reimbursed MarkWest and EMG approximately $377.0 million, which represents 40.0% of all Ohio Gathering…