AIMCo to acquire 28 pct stake in Howard Energy Partners
Alberta Investment Management Corp (AIMCo) has agreed to acquire an ownership stake in Howard Energy Partners (HEP), a San Antonio, Texas-based diversified midstream company. The deal, expected to close in Q1 2017, will see AIMCo take an interest of about 28 percent, making the pension fund manager the second largest unit-holder in the company. The seller is EnLink Midstream Partners, which has backed HEP since its founding in mid-2011. The transaction, the terms of which were not disclosed, follows AIMCo's initial commitment in August of up to US$500 million of Series B preferred units of HEP.
21 December 2016•3 mins read
