The common units offered to the public will represent approximately 42.6 percent of the outstanding equity of Universal Compression Partners, or approximately 49.0 percent if the underwriters exercise in full their over- allotment option. Universal Compression Holdings will indirectly own the remaining equity interests in Universal Compression Partners.
Merrill Lynch & Co. and Lehman Brothers will act as joint book-running managers and Wachovia Securities will act as joint lead manager for the offering. In addition, A.G. Edwards and Deutsche Bank Securities will act as co-managers for the offering.
The offering is being made only by means of a prospectus, copies of which may be obtained from Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080; or Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state.
Universal Compression Partners was recently formed by Universal Compression Holdings to provide natural gas contract compression services to customers throughout the United States. A subsidiary of Universal Compression Holdings is the general partner of Universal Compression Partners. Upon the closing of this offering, Universal Compression Partners will own a fleet of approximately 820 compressor units, comprising approximately 330,000 horsepower, or approximately 17% (by available horsepower) of Universal Compression Holdings' domestic contract compression business.
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