MIC Announces Completion of Merger With Argo
July 21 2022 - 8:57AM
Business Wire
- Transaction closed on July 21, 2022
- Merger consideration of $4.11 per unit in cash
- Closing results in delisting of MIC
Macquarie Infrastructure Holdings, LLC (NYSE: MIC) (the
“Company”) today announced that it has completed its merger with an
affiliate of Argo Infrastructure Partners, LP and that units of the
Company have been delisted from the New York Stock Exchange.
Unitholders of the Company will receive merger consideration of
$4.11 per unit in cash as a result of the transaction.
“We are pleased to have successfully completed the final phase
of the unlocking of value for equity holders,” said Christopher
Frost, chief executive officer of MIC. “The pursuit of strategic
alternatives has generated proceeds of $52.50 or a 36% premium to
the MIC equity price prior to our announcement of the pursuit of
strategic alternatives. Together with improvements in safety and
financial performance, and the reduction in the environmental
impact of each of our portfolio businesses, a broad range of
stakeholders has benefitted under our stewardship.”
MIC completed sales of its International-Matex Tank Terminals
business in 2020 and its Atlantic Aviation business in 2021.
Lazard and Evercore acted as financial advisors and White &
Case acted as legal counsel to MIC in connection with the merger of
the Company with Argo.
About MIC
MIC is not an authorized deposit-taking institution for the
purposes of the Banking Act 1959 (Commonwealth of Australia). The
obligations of MIC do not represent deposits or other liabilities
of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not
guarantee or otherwise provide assurance in respect of the
obligations of MIC.
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Investors Jay A. Davis Investor Relations MIC +1
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