Chevron Announces Agreement to Acquire Noble Midstream Partners

Source: www.gulfoilandgas.com 3/5/2021, Location: North America

• Simplifies governance and corporate structure
• Enables further integration in support of leading DJ & Permian positions
• Transaction expected to close in 2Q 2021

Chevron Corporation and Noble Midstream Partners, LP announced that they have entered into a definitive agreement for Chevron to acquire all (33.925 million) of the publicly held common units representing the limited partner interests in Noble Midstream, not already owned by Chevron and its affiliates (the “Common Units”), in an all-stock transaction whereby each outstanding unitholder of Noble Midstream would receive 0.1393 of a share of common stock of Chevron in exchange for each Common Unit owned.

“We believe this buy-in transaction is the best solution for all stakeholders, enabling us to simplify the governance structure and capture value in support of our leading positions in the DJ and Permian basins,” said Colin Parfitt, Vice President of Chevron Midstream and Chairman of the Board of Directors (the “Board”) of the general partner of Noble Midstream Partners LP.

The Conflicts Committee of the Board, comprised entirely of independent directors, after consultation with its independent legal and financial advisors, unanimously approved the merger. Subsequently, the merger was approved by the Board.

The transaction is expected to close in the second quarter of 2021, subject to customary approvals. A subsidiary of Chevron, as the holder of a majority of the outstanding Common Units, has voted its units to approve the transaction.

Advisors
Citi is acting as financial advisor and Latham & Watkins LLP is acting as legal advisor to Chevron. Janney Montgomery Scott is acting as financial advisor and Baker Botts L.L.P. is acting as legal advisor to the Conflicts Committee of the Board.


Norway >>  7/1/2022 - TGS ASA has acquired Prediktor AS ("Prediktor"), a leading provider of asset management and real-time data management solutions to renewable and energ...
Norway >>  6/30/2022 - In reference to the 26 January press release stating that Green Energy Group (SBX Plc, or "the Company") had initiated a strategic review, and the 28 ...

Norway >>  6/30/2022 - Reference is made to the previous stock exchange notices published by Aker BP ASA (“Aker BP”) regarding the contemplated merger (the “Merger”) between...
Norway >>  6/30/2022 - In reference to announcement made on 9 March 2022 on Pandion Energy acquiring the shares of ONE-Dyas Norge AS. Pandion Energy hereby announces that th...

Singapore >>  6/30/2022 - The Keppel Marina East Desalination Plant (KMEDP), which is owned by Keppel Infrastructure Holdings Limited (Keppel Infrastructure), and Keppel Infras...
United States >>  6/30/2022 - The acquisition of Westwood Shipping Lines by Swire Shipping was finalized, following regulatory approvals and completion of standard closing conditio...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.