08 August 2018
Apache Corporation (NYSE:APA) (NASDAQ:APA) and Kayne Anderson Acquisition Corp. (NASDAQ:KAAC) (NASDAQ:KAACU) (NASDAQ:KAACW) have announced an agreement pursuant to which Apache will contribute its midstream assets at Alpine High to Altus Midstream LP, a partnership jointly owned by Apache and KAAC. The transaction is subject to approval by KAAC shareholders, as well as other customary closing conditions. Closing is expected in the fourth quarter of 2018, at which time KAAC will trade on the NASDAQ under the name Altus Midstream Company with a new ticker symbol to be determined.
Latham & Watkins LLP represents KAAC in the transaction with a Houston-based corporate deal team led by partners Jesse Myers, Bill Finnegan, and Debbie Yee, with associates Thomas Verity, Dan Harrist, Lexi Udeh, and Rebecca Kendall. Advice was also provided on tax matters by partner Tim Fenn, with associates Bryant Lee and Mike Rowe.