Hiland Partners, Hiland Holdings going-private deals get HSR clearance

By Angela McDaniels

Tacoma, Wash., July 13 - The Hart-Scott-Rodino waiting period has expired in the proposed acquisition of Hiland Partners, LP and Hiland Holdings GP, LP by an affiliate of Harold Hamm.

As reported on June 1, the companies signed separate agreements to be acquired and taken private for $7.75 in cash per Hiland Partners common unit and $2.40 in cash per Hiland Holdings common unit.

The transactions are expected to be completed in the third quarter and are conditioned on the completion of each other.

Hamm will finance the transactions.

In April, Hamm amended his Jan. 15 proposal to acquire all of the outstanding common units of Hiland Partners that he or his affiliates do not own to $7.75 from $9.50. The price for Hiland Holdings units was reduced to $2.40 from $3.20.

Hamm 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.

The Enid, Okla.-based 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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