Tortoise Announces Expected Constituent Change Due to Merger and Acquisition Activity
LEAWOOD, Kan.--(BUSINESS WIRE)--Feb 27, 2019--Tortoise today announced a constituent change due to the acquisition of Western Gas Partners LP by Western Gas Equity Partners LP as part of its simplification transaction. The combined entity will be renamed Western Midstream Partners LP and will trade under the ticker symbol (WES). As such, Western Gas Partners LP will cease trading on the New York Stock Exchange following the completion of the acquisition and will therefore be removed from the Tortoise MLP Index ® (TMLP) and the Tortoise North American Pipeline Index SM (TNAP) following the expected close on Feb. 28, 2019. The renamed Western Midstream Partners LP (WES) will remain a constituent in both indices.
Tortoise invests in assets and services that serve essential needs in society and can also serve essential client needs, such as diversification and income. Tortoise’s actively researched indices fill a void in the essential asset universe and provide a platform for passively managed exchange-traded products. Through a variety of investment vehicles, Tortoise provides access to a wide range of client solutions, focused on their evolving needs. For more information, please visit www.tortoiseadvisors.com.
About Tortoise MLP Index®
The Tortoise MLP Index is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.
About Tortoise North American Pipeline Index SM
The Tortoise North American Pipeline Index is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
The Tortoise indices are the exclusive property of Tortoise Index Solutions, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline Index SM , Tortoise North American Oil and Gas Producers Index SM , and the Tortoise Water Index SM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omission in calculating the Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Tortoise Index Solutions, LLC and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
No portion of this publication may be reproduced in any format or by any means including electronically or mechanically, by photocopying, or by any other form or manner whatsoever, without the prior written consent of Tortoise Index Solutions, LLC.
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Investor and Media Relations
KEYWORD: UNITED STATES NORTH AMERICA KANSAS
INDUSTRY KEYWORD: ENERGY OIL/GAS PROFESSIONAL SERVICES FINANCE
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PUB: 02/27/2019 05:26 PM/DISC: 02/27/2019 05:26 PM