Jan 10 (Reuters) - SemGroup Corp SEMG.N :
* SEMGROUP AND KKR FORM CANADIAN JOINT VENTURE AND ACQUIRE MERITAGE MIDSTREAM ULC
* SEMGROUP CORP - SEMGROUP TO OWN 51% AND KKR TO OWN 49% OF NEW COMPANY
* SEMGROUP CORP - SEMGROUP'S CONTRIBUTION OF SEMCAMS' SHARES AND ASSETS TO SEMCAMS MIDSTREAM VALUED AT C$1.15 BILLION
* SEMGROUP CORP - ACQUISITION OF MERITAGE MIDSTREAM FOR C$600 MILLION (US$449 MILLION)
* SEMGROUP CORP - IN ADDITION, JOINT VENTURE WILL ENTER INTO C$800 MILLION UNDERWRITTEN BANK CREDIT FACILITY
* SEMGROUP CORP - KKR WILL ALSO CONTRIBUTE C$300 MILLION (US$224 MILLION) TO ACQUIRE PERPETUAL PREFERRED EQUITY
* SEMGROUP - WILL CONTRIBUTE SHARES & ASSETS OF SEMCAMS, VALUED AT C$1.15 BILLION, FOR C$615 MILLION CASH PROCEEDS & 51% COMMON EQUITY OWNERSHIP IN NEW JV
* SEMGROUP - SEMCAMS MIDSTREAM WILL OWN ABOUT 900 MMCF/D OF NATURAL GAS PROCESSING CAPACITY BETWEEN EXISTING SEMCAMS AND MERITAGE FACILITIES
* SEMGROUP CORP - BUSINESS AND AFFAIRS OF SEMCAMS MIDSTREAM WILL BE MANAGED BY A BOARD OF DIRECTORS COMPOSED OF SEVEN BOARD MEMBERS
* SEMGROUP CORP - KKR WILL CONTRIBUTE C$515 MILLION OF CASH IN EXCHANGE FOR 49% OF COMMON EQUITY OWNERSHIP IN SEMCAMS MIDSTREAM
* SEMGROUP CORP - SEMCAMS MIDSTREAM BOARD COMPOSED OF FOUR DIRECTORS NOMINATED BY SEMGROUP, THREE NOMINATED BY KKR, WITH SEMGROUP APPOINTING CHAIR
* SEMGROUP - MERITAGE DEAL TO BE FINANCED WITH COMBINATION OF FUNDS FROM KKR GLOBAL INFRASTRUCTURE INVESTORS III & SEMCAMS MIDSTREAM CREDIT FACILITY
* SEMGROUP - SEMCAMS MIDSTREAM WILL BE HEADQUARTERED IN CALGARY, MANAGEMENT TEAM WILL BE LED BY SEMCAMS' DAVE GOSSE AS PRESIDENT
* SEMGROUP - KKR GLOBAL INFRASTRUCTURE INVESTORS III, AFFILIATED INVESTMENT VEHICLES WILL CONTRIBUTE C$815 MILLION CASH FOR MERITAGE TRANSACTION FINANCING
* SEMGROUP - FOR MERITAGE TRANSACTION FINANCING, SEMCAMS MIDSTREAM'S UNDERWRITTEN CREDIT FACILITY COMMITMENT IS BEING PROVIDED BY A SYNDICATE OF BANKS
* SEMGROUP - SEMCAMS MIDSTREAM'S UNDERWRITTEN CREDIT FACILITY COMMITMENT INCLUDES C$350 MILLION SENIOR SECURED AMORTIZING TERM LOAN FACILITY
* SEMGROUP - SEMCAMS MIDSTREAM'S UNDERWRITTEN CREDIT FACILITY COMMITMENT ALSO INCLUDES C$450 MILLION SENIOR SECURED REVOLVING CREDIT FACILITY
* SEMGROUP - SYNDICATE OF BANKS PROVIDING SEMCAMS MIDSTREAM'S UNDERWRITTEN CREDIT FACILITY LED BY TD SECURITIES, CIBC CAPITAL MARKETS, BMO CAPITAL MARKETS