January 2, 2018 / 12:09 PM / 6 months ago

BRIEF-Archrock To Acquire Remaining Public Stake In Archrock Partners

Jan 2 (Reuters) - Archrock Inc:

* ARCHROCK, INC. ANNOUNCES AGREEMENT TO ACQUIRE REMAINING PUBLIC STAKE IN ARCHROCK PARTNERS, L.P.

* ARCHROCK INC - DEAL FOR APPROXIMATELY $607 MILLION

* ARCHROCK INC - ‍EXPECTED TO BE IMMEDIATELY ACCRETIVE TO ARCHROCK SHAREHOLDERS​

* ARCHROCK INC - ‍FOLLOWING COMPLETION OF TRANSACTION, ARCHROCK IS EXPECTED TO HAVE AN APPROXIMATE $2.8 BILLION ENTERPRISE VALUE​

* ARCHROCK INC - ‍DOES NOT EXPECT TO PAY CASH FEDERAL INCOME TAXES THROUGH AT LEAST 2023​

* ARCHROCK INC - ‍MANAGEMENT INTENDS TO RECOMMEND TO CO’S BOARD OF DIRECTORS A 10 PERCENT INCREASE IN FIRST FULL QUARTERLY DIVIDEND FOLLOWING COMPLETION OF DEAL

* ARCHROCK INC - ‍ MANAGEMENT EXPECTS A 10 TO 15 PERCENT ANNUAL DIVIDEND GROWTH RATE THROUGH 2020​

* ARCHROCK INC - ‍BOARD OF DIRECTORS OF ARCHROCK APPROVED MERGER AGREEMENT​

* ARCHROCK - CO TO BUY ABOUT 41.3 MILLION UNITS OF ARCHROCK PARTNERS IT DOES NOT OWN AT RATIO OF 1.400 ARCHROCK SHARES FOR EACH UNIT OF ARCHROCK PARTNERS​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below