Antero Midstream Partners (AM) and the partnership’s general partner, Antero Midstream GP (Amgp), said Monday AM’s unitholders and Amgp’s shareholders voted to approve the previously announced “simplification” transaction between the companies.
The melding simplifies the Antero coroporate structure and, by converting to a corporation, the new company hopes to attract more investors, Kallanish Energy reports.
The previously announced deal is expected to close today. In connection with closing, Amgp will change its name to Antero Midstream Corp. and its common stock will trade on the New York Stock Exchange under the “AM” ticker symbol beginning tomorrow.
Antero Midstream common units and Amgp common shares will no longer be publicly traded after the completion of the transaction.
“Today’s voting results from AM unitholders and AMGP shareholders reaffirm the benefits of the simplification transaction and demonstrate strong support for New AM’s outlook,” said Paul Rady, chairman and CEO. “Structured as a C-Corp for both governance and tax purposes, we believe New AM will be a best-in-class midstream infrastructure corporation with enhanced appeal to institutional investors and valuable shareholder rights.”
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