SHV Energy completed the acquisition of propane business from American Midstream Partners for $170m.

SHV Energy, a global distributor of off-grid energy, completed the acquisition of propane marketing and services business business from American Midstream Partners, a partnership formed to provide midstream infrastructure that links producers of natural gas, for $170m. “Over the past few months, AMID’s management team has communicated its strategy to strengthen the Partnership’s competitive position in our core areas, evaluate non-core asset sales and reallocate capital to areas with the greatest long-term value. The sale of the Propane business and acquisition of Viosca Knoll are the first steps in implementing a strategy that achieves these goals. Reallocating capital from non-core assets into more strategic investments significantly repositions AMID’s ability to compete and to generate significant unitholder value," Lynn Bourdon, American Midstream CEO.