Crestwood Puts Up $258M To Take Control Of Marcellus JV

Law360, New York (January 8, 2013, 7:55 PM EST) -- Natural gas processor Crestwood Midstream Partners LP has agreed to pay $258 million to buy its private equity-backed general partner out of a natural gas-gathering joint venture in the Marcellus Shale, the buyer said on Tuesday.

The deal gives Houston-based CMP control of a 65 percent stake in the joint venture, the similarly named Crestwood Marcellus Midstream LLC, according to a statement from the buyer. CMP purchased Crestwood Marcellus Midstream in March 2012 alongside its general partner, Crestwood Holdings Partners LLC, which is controlled by energy-focused...
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