American Midstream Announces Drop Down of Trans-Union Interstate Pipeline and Commencement of Deliveries to Southern Natural Gas

HOUSTON--(BUSINESS WIRE)--American Midstream Partners, LP (NYSE: AMID) (“AMID” or “Partnership”) announced today the acquisition and closing of 100% of the equity interests in Trans-Union Interstate Pipeline, L.P. (“Trans-Union”) from affiliates of ArcLight Capital Partners, LLC (“ArcLight”), which controls the general partner of the Partnership, for a total consideration of approximately $48 million. The consideration consisted of approximately $15.5 million cash funded from borrowings under the Partnership’s revolving credit facility and the assumption of $32.5 million of non-recourse debt.