Kodiak Gas Services Acquires Full Control of Joint Venture
Ticker: KGS · Form: 8-K · Filed: Mar 8, 2024 · CIK: 1767042
Sentiment: neutral
Topics: acquisition, joint-venture
Related Tickers: KODK
TL;DR
KODK buys out JV partner, taking full control of Kodiak Salmon JV LLC.
AI Summary
Kodiak Gas Services, Inc. announced on March 8, 2024, that it has entered into a definitive agreement to acquire the remaining 50% equity interest in Kodiak Salmon JV LLC from its joint venture partner, an affiliate of the Canada Pension Plan Investment Board. This transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition will consolidate full ownership of Kodiak Salmon JV LLC under Kodiak Gas Services, potentially simplifying operations and strategic decision-making.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and the financial details and full impact on Kodiak's operations are not yet detailed.
Key Players & Entities
- Kodiak Gas Services, Inc. (company) — Registrant
- Kodiak Salmon JV LLC (company) — Joint Venture being acquired
- Canada Pension Plan Investment Board (company) — Joint Venture partner
- March 8, 2024 (date) — Date of report and agreement
- second quarter of 2024 (date) — Expected closing period
FAQ
What is the specific financial consideration for the acquisition of the remaining 50% equity interest?
The filing does not disclose the specific financial consideration for the acquisition.
Who is the joint venture partner being acquired from?
The joint venture partner is an affiliate of the Canada Pension Plan Investment Board.
What is the name of the joint venture entity?
The joint venture entity is Kodiak Salmon JV LLC.
When is the transaction expected to close?
The transaction is expected to close in the second quarter of 2024.
What are the conditions for closing the transaction?
The transaction is subject to customary closing conditions.
Filing Stats: 2,265 words · 9 min read · ~8 pages · Grade level 16.5 · Accepted 2024-03-08 07:25:02
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share KGS The New York Stock Ex
Filing Documents
- d748966d8k.htm (8-K) — 37KB
- 0001193125-24-062905.txt ( ) — 165KB
- kgs-20240308.xsd (EX-101.SCH) — 3KB
- kgs-20240308_lab.xml (EX-101.LAB) — 18KB
- kgs-20240308_pre.xml (EX-101.PRE) — 11KB
- d748966d8k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Kodiak Gas Services, Inc. Date: March 8, 2024 By: /s/ Kelly M. Battle Name: Kelly M. Battle Title: Executive Vice President, Chief Legal Officer, Chief Compliance Officer and Secretary