The Firm is representing Crestwood Midstream Partners LP (NYSE: CMLP) (“Crestwood”) in connection with the merger of Crestwood and Inergy Midstream, L.P. (NYSE: NRGM) (“Inergy Midstream”), an affiliate of Inergy, L.P. (NYSE: NRGY), to create a fully integrated midstream partnership with a total enterprise value of approximately $7 billion. The combination of Crestwood and Inergy Midstream will create a diverse platform of midstream assets providing broad-ranging services in the premier shale plays in North America. Under the terms of the definitive transaction agreements, the combination of the two companies will be effected through a series of transactions, which will result in Crestwood Holdings acquiring the general partner of Inergy prior to the consummation of the merger.
Crestwood, based in Houston, Texas, is a growth-oriented master limited partnership focused on providing midstream infrastructure solutions for the substantial future development of North American shale and unconventional resource basins. Crestwood’s operations include natural gas gathering, processing, treating and compression services for natural gas and natural gas liquids produced from the Barnett Shale in north Texas, the Fayetteville Shale in northwest Arkansas, the Granite Wash area in the Texas Panhandle, the Avalon Shale area of Southeastern New Mexico, the Haynesville/Bossier Shale in western Louisiana, and the Marcellus Shale in northern West Virginia. Inergy, L.P., headquartered in Kansas City, Missouri, is a publicly traded master limited partnership. Inergy’s operations include a natural gas storage business in Texas and an NGL supply logistics, transportation, and marketing business that serves customers in the United States and Canada.
The Simpson Thacher team includes: Bill Curbow and John O’Connell (M&A New York); Chris May and John Pitts (M&A Houston); Alden Millard, Hayley Urkevich Nivelle and Amy Ward (Credit); Ed Tolley and David Azarkh (Capital Markets); Brian Robbins, Aimee Adler and Eric Wolf (Executive Compensation and Employee Benefits); John Creed and Sean Austin (Tax); Jodie Pimentel (Intellectual Property); and Michael R. Isby and Timothy J. Mulvihill (Environmental).
