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Slide #3. Martin Midstream Partners L.P. — Certain Subsidiaries of Atlas Pipeline Partners, L.P. Holding Interests in West Texas LPG Limited Partnership
Martin Midstream Partners L.P. (NASDAQ:MMLP)
Certain Subsidiaries of Atlas Pipeline Partners, L.P. Holding Interests in West Texas LPG Limited Partnership
Martin Midstream Partners L.P. (Nasdaq:MMLP) ("MMLP" or the "Partnership") announced today that it has entered into definitive documentation with a subsidiary of Atlas Pipeline Partners, L.P. (NYSE:APL) to acquire all of the outstanding membership interests in Atlas Pipeline NGL Holdings, LLC and Atlas Pipeline NGL Holdings II, LLC (collectively, "Holdings") for $135 million, subject to customary post-closing adjustments (the "Transaction"). Holdings owns a 19.8% limited partnership interest and a 0.2% general partnership interest in West Texas LPG Pipeline L.P. ("WTLPG"). WTLPG is operated by Chevron Pipe Line Company, an affiliate of Chevron Corporation, which owns the remaining 80% interest.
Martin Midstream Partners has a set of operations focused primarily in the United States Gulf Coast region. Co.'s primary business segments are: Terminalling and Storage, which provides storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products; Transportation, which operates a fleet of both land transportation and marine transportation assets that transport petroleum products and by-products, petrochemicals, and chemicals; Sulfur Services, which transports molten sulfur and fertilizer products; and natural gas liquids (NGL), which distributes NGLs that it primarily purchases from refineries and natural gas processors.
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