American Midstream Announces Drop Down of Destin Pipeline Interests; Bolstering Deepwater Gulf of Mexico Position

HOUSTON--(BUSINESS WIRE)--American Midstream Partners, LP (NYSE: AMID) (the “Partnership” or “AMID”) announced today the acquisition and closing of an additional 17.0 % equity interest in the Destin Pipeline (“Destin”) from affiliates of ArcLight Capital Partners, LLC (“ArcLight”), which controls the general partner of the Partnership, for a total consideration of approximately $30 million. Post-closing, the Partnership will own a 66.67% interest in Destin. The acquisition was made in connection with ArcLight’s right, as a current member in Destin, to acquire a portion of an equity interest divested by another member of Destin.