Tallgrass Energy Partners LP — Merger or Acquisition (March 2018)
7 slides from Tallgrass Energy Partners LP's merger presentation, Mar 27, 2018
Slide 1: TEGP to Acquire TEP
TEGP to Acquire TEP March 26, 2018
Slide 2: Additional Information and Cautionary Statements
Additional Information and Cautionary Statements Additional Information and Where to Find it In connection with the transactions referred to in this material, Tallgrass Energy GP, LP (“TEGP”) expects to file a registration statement on Form S-4 with the Securities and Exchange Commission (“SEC”) tha
Slide 3: Non-GAAP Measures
Non-GAAP Measures Tallgrass Energy Adjusted EBITDA includes the Adjusted EBITDA for the assets owned by TEP as of December 31, 2017, the additional 2 percent of Tallgrass Pony Express Pipeline, LLC (acquired by TEP effective Feb. 1) and the distributions attributable to the additional 25.01 percent
Slide 4: Tallgrass Energy Transaction Overview
Tallgrass Energy Transaction Overview TEGP to acquire all publicly owned TEP units in a mutually beneficial merger transaction ï,— TEP public unitholders(1) will receive 2.0 TEGP Class A shares per TEP common unit ï,— Represents a 10% premium to TEP based on each security’s historical 30-trading day
Slide 5: 2018 Financial Guidance and Q1 Distributions
2018 Financial Guidance and Q1 Distributions Q1 2018 ï,— TEGP: $0.4875 dividend / share Distributions / ï,— TEP: $0.9750 distribution / unit Dividends â–ª Exactly 2.0x the TEGP dividend. Demonstrates no distribution cut to TEP ï,— Assuming the transaction closes before the Q2 record date, current TE
Slide 6: Updated Tallgrass Corporate Structure
Updated Tallgrass Corporate Structure Current Pro Forma for Transaction Management, Management, TEGP Public TGE Public EMG, Kelso, and EMG, Kelso, and Investors Investors Minority Investors Minority Investors ~58.1mm Class A Shares ~126.7mm Class B Shares ~153.2mm Class A Shares ~126.7mm Class B Sha
Slide 7: Summary Transaction Timeline
Summary Transaction Timeline ï,— Initial Form S-4 filing expected in coming daysï,— Expect TEP unitholder meeting in Q2 2018ï,— No TEGP shareholder approval is required ï,— Expect closing in Q2 2018, subject to customary closing conditions 7 Sum
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