Kayne Anderson Announces Stockholder Approval of the Merger of Kayne Anderson MLP/Midstream Investment Company and Kayne Ande...
2018年8月1日 - 5:15AM
KA Fund Advisors, LLC (“Kayne Anderson”), which serves as the
adviser to Kayne Anderson MLP/Midstream Investment Company (“KYN”
or the “Company”) (NYSE: KYN) and Kayne Anderson Energy Development
Company (“KED”) (NYSE: KED), announced today that the proposal to
merge KED with and into KYN (the “Merger”) has been approved by KED
stockholders. The Merger is expected to close on August 6, 2018.
KYN will be the surviving company, and KED stockholders will
receive shares of KYN at an exchange ratio based on each company’s
relative net asset value per share as of August 3, 2018.
“We are very pleased with today’s results and want to thank all
of our KED stockholders that took the time to vote on this
important matter,” said Kevin McCarthy, the Company’s Chairman and
CEO. “We expect stockholders of the combined company to benefit
from operating cost savings, enhanced market liquidity and greater
financial flexibility.”
A “Frequently Asked Questions” document regarding the Merger can
be found at www.kaynefunds.com.
Kayne Anderson MLP/Midstream Investment Company is a
non-diversified, closed-end management investment company
registered under the Investment Company Act of 1940, whose common
stock is traded on the NYSE. KYN’s investment objective is to
obtain a high after-tax total return by investing at least 85% of
its total assets in energy-related master limited partnerships and
their affiliates (“MLPs”), and in other companies that, as their
principal business, operate assets used in the gathering,
transporting, processing, storing, refining, distributing, mining
or marketing of natural gas, natural gas liquids, crude oil,
refined petroleum products or coal (collectively with MLPs,
“Midstream Energy Companies”).
Kayne Anderson Energy Development Company is a non-diversified,
closed-end investment company registered under the Investment
Company Act of 1940. KED’s investment objective is to generate both
current income and capital appreciation primarily through equity
and debt investments. KED will seek to achieve this objective by
investing at least 80% of its net assets together with the proceeds
of any borrowings (its "total assets") in securities of companies
that derive the majority of their revenue from activities in the
energy industry, including: (a) Midstream Energy Companies, which
are businesses that operate assets used to gather, transport,
process, treat, terminal and store natural gas, natural gas
liquids, propane, crude oil or refined petroleum products; (b)
Upstream Energy Companies, which are businesses engaged in the
exploration, extraction and production of natural resources,
including natural gas, natural gas liquids and crude oil, from
onshore and offshore geological reservoirs; and (c) Other Energy
Companies, which are businesses engaged in owning, leasing,
managing, producing, processing and sale of coal and coal reserves;
the marine transportation of crude oil, refined petroleum products,
liquefied natural gas, as well as other energy-related natural
resources using tank vessels and bulk carriers; and refining,
marketing and distributing refined energy products, such as motor
gasoline and propane to retail customers and industrial
end-users.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as
defined under the U.S. federal securities laws. Generally, the
words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "will" and similar expressions identify forward-looking
statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ from either
company’s historical experience and its present expectations or
projections indicated in any forward-looking statements. These
risks include, but are not limited to, changes in economic and
political conditions; regulatory and legal changes; MLP industry
risk; leverage risk; valuation risk; interest rate risk; tax risk;
and other risks discussed in each company’s filings with the SEC.
You should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. The companies
undertake no obligation to publicly update or revise any
forward-looking statements made herein. There is no assurance that
either company’s investment objectives will be attained.
Contact:
KA Fund Advisors, LLC877-657-3863http://www.kaynefunds.com/
Kayne Anderson Energy Development Company (delisted) (NYSE:KED)
過去 株価チャート
から 8 2024 まで 9 2024
Kayne Anderson Energy Development Company (delisted) (NYSE:KED)
過去 株価チャート
から 9 2023 まで 9 2024