Hiland unitholders OK merger deals; companies set to be taken private

By Lisa Kerner

Charlotte, N.C., Dec. 4 - The public unitholders of Hiland Partners, LP and Hiland Holdings GP, LP voted on Friday to approve the companies' proposed mergers with affiliates of Harold Hamm, according to a Hiland news release.

The mergers are expected to be completed later in the day, the release said.

As previously reported, Hamm increased the merger consideration payable to Hiland Partners common unitholders to $10.00 per unit from $7.75 and increased the merger consideration payable to Hiland Holdings common unitholders to $3.20 per unit from $2.40.

The Hiland companies signed separate agreements on June 1 to be acquired and taken private.

Hamm will finance the transactions, a prior news release said. He is the chairman of the general partners of Hiland Partners and Hiland Holdings, which are Hiland Partners GP, LLC and Hiland Partners GP Holdings, LLC, respectively.

Based in Enid, Okla., the Hiland companies provide natural gas gathering and processing services as well as air compression and water injection services for oil and gas secondary recovery operations.

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