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News

Noble Midstream Receives Non-Binding Chevron Offer To Acquire Outstanding LP Units Not Owned By Chevron

Author: Benzinga Newsdesk | February 08, 2021 09:01am

Noble Midstream Partners LP (NASDAQ:NBLX) ("Noble Midstream" or the "Partnership") announced the Partnership has received a non-binding proposal (the "Proposal") from Chevron Corporation ("Chevron") to acquire all of the publicly held common units representing limited partner interests in the Partnership not already owned by Chevron and its affiliates.

The Board of Directors of Noble Midstream GP LLC (the "General Partner"), the general partner of Noble Midstream, has delegated authority to its conflicts committee to negotiate the terms of the proposed transaction on behalf of the unaffiliated Noble Midstream unitholders, as is customary in similar transactions. The Proposal is subject to the negotiation and execution of a definitive agreement, as well as approval by the Board of Directors of the General Partner. There is no assurance that any such approvals will be forthcoming, that such definitive agreement will be executed, or that any transaction will be consummated.

Posted In: NBLX