CONE Midstream Partners (CNNX) to Acquire Additional 25% Stake in CONE Midstream DevCo
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CONE Midstream to Acquire Remaining 25% Additional Interest in Anchor Systems
November 16, 2016 6:00 AM ESTCANONSBURG, Pa., Nov. 16, 2016 (GLOBE NEWSWIRE) -- CONE Midstream Partners LP (NYSE: CNNX) (the Partnership) today announced it has entered into a definitive agreement to acquire an additional 25% ownership interest in CONE Midstream DevCo I LP, commonly referred to as the Anchor Systems. The transaction, which is expected to close before the end of the fourth quarter, is for a total purchase consideration of $248 million, comprised of $140 million in cash and issuance of approximately 5.2 million common limited partnership units to our Sponsors. The cash portion of the purchase consideration will be funded through borrowings under the Partnerships $250... More
