American Midstream Partners LP (NYSE: AMID) said June 18 it agreed to sell its marine products terminalling business ahead of the Houston company's closing its Southcross combination.

Undisclosed institutional investors advised by J.P. Morgan Asset Management will buy the marine products terminals for about $210 million cash. The transaction includes the Harvey and Westwego terminals located in the Port of New Orleans and the Brunswick terminal located in the Port of Brunswick in Georgia.

The transaction is a continuation of American Midstream's noncore asset divestiture program the company launched last year to redeploy capital to areas with the greatest long-term value.

Including the marine products transaction, American Midstream has sold more than $500 million worth of noncore assets since 2017.

Additionally, American Midstream said the company continues to work to close its acquisition of Southcross Energy Partners LP (NYSE: SXE) and Southcross Holdings LP in two transactions totaling $815 million.

“[The Southcross] transaction accelerates our transformation into a fully integrated gathering, processing and transmission company focused in select core areas,” Lynn L. Bourdon III, chairman, president and CEO of American Midstream, said in a November press release. “The transaction also furthers our strategy of redeploying capital into higher growth businesses along with divesting noncore assets at attractive multiples.”

American Midstream will use proceeds from the marine products sale to pay down debt under its revolving credit facility as well as for general corporate purposes, according to the company press release.

Bank of America Merrill Lynch was exclusive financial adviser and Sidley Austin LLP was legal counsel to American Midstream for the marine products transaction.