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Blackwater Midstream Corp to be acquired by ArcLight Capital Partners LLC's affiliate for about USD44.1m.

M2 EQUITYBITES-July 2, 2012-Blackwater Midstream Corp to be acquired by ArcLight Capital Partners LLC's affiliate for about USD44.1m(C)2012 M2 COMMUNICATIONS http://www.m2.com

Petroleum company Blackwater Midstream Corp (OTC BB:BWMS) stated on Friday the execution of a definitive agreement to be acquired by an affiliate of ArcLight Capital Partners LLC (ArcLight) for about USD44.1m, or USD48.7m, including indebtedness.

This agreement grants Blackwater's common stock holders with USD0.64 per share in cash for each outstanding share of common stock they own. The holders of convertible notes will be entitled to receive cash consideration based on the number of shares of common stock into which the notes are convertible.

Following closing of the merger, Blackwater's common stock will no longer be publicly owned or publicly traded.

Subject to the satisfaction of customary closing conditions, including the approval of Blackwater's stockholders, the transaction is expected to close in the fourth quarter of 2012.

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Publication:M2 EquityBites (EQB)
Date:Jul 2, 2012
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