DCP Midstream and DCP Midstream Partners Complete Acquisitions
DENVER, Aug. 29 /PRNewswire-FirstCall/ -- DCP Midstream, LLC, or DCP Midstream, has completed its previously announced acquisition of the stock of MEG for $635 million, subject to closing adjustments. MEG is a portfolio company of investment firms including Yorktown Energy Partners LLC, Banc of America Capital Investors and Lehman Brothers MLP Partners, L.P. In a separate transaction, DCP Midstream Partners (NYSE: DPM), or the Partnership, completed its previously announced acquisition of certain subsidiaries of MEG from DCP Midstream for $165 million, subject to closing adjustments. DCP Midstream owns the general partner of the Partnership. These transactions mark the combined enterprise's entry into three prominent producing basins: Fort Worth, Piceance and Powder River.