M&As this week: American Midstream Partners, Sojitz Corporation

American Midstream Partners has agreed to acquire Southcross Energy Partners (SXE), and certain assets of Southcross Holdings for a purchase consideration of $815m.

Southcross Holdings owns Southcross Holdings Intermediary, Southcross Holdings Guarantor GP and Southcross Holdings Guarantor.

The purchase consideration also includes an assumption of the target company’s debt of $139m. The transaction will be funded by American Midstream through the issue of common units, preferred units and GP Class D units.

American Midstream has appointed Deutsche Bank and BofA Merrill Lynch Asset Holdings as financial advisors, and Gibson Dunn & Crutcher as legal advisor for the transaction.

Scheduled for completion in the second quarter of 2018, the transaction will enable American Midstream to streamline natural gas and natural gas liquids (NGL) supplies to cater demand markets on the US Gulf Coast.

Sojitz Corporation has completed the acquisition of First State Regasificadora SLU, which holds a 15% stake in Regasificadora del Noroeste  (Reganosa).

Reganosa operates a liquefied natural gas (LNG) terminal located in Mugardos, north-west of Spain. The terminal serves as an LNG bunkering station for LNG-powered vessels.

Sojitz now operates under a new name, Sojitz Regasificadora (SR). The acquisition allows the company to enter LNG terminal business in Europe.