Houston midstream company to sell propane business, acquires Gulf system

Houston-based American Midstream Partners LP (NYSE: AMID) has agreed to sell its propane marketing and services business to the Netherlands-based SHV Energy NV for $170 million in cash.

The deal is expected to close in the third quarter and will simplify American Midstream’s business profile, the company said July 24. American Midstream relocated its headquarters to Houston last year.

Proceeds from the sale will be used to fund American Midstream’s growth in the Gulf of Mexico, Permian Basin…

Houston midstream company to sell propane business, acquires Gulf system syndicated post

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