The agreement includes Partnership units, resulting in the issuance of approximately 31.6 million units to the General Partner.
The total equity interest of the Partnership in EMH is now 75% while General Partner holds the remaining 25% stake.
EMH owns the assets including gathering and processing systems in North Texas and Oklahoma, the US, which are supported by long-term, fixed-fee contracts with minimum volume commitments.
The assets were contributed by Devon Energy to EnLink Midstream in March 2014.
EnLink Midstream president and chief executive officer Barry Davis said: "The transfer of assets, or what is generally called a drop down transaction, is a key component of EnLink Midstream’s strategic growth plan.
"By transferring these assets, we are able to support growth in distributions, reduce the leverage of the Partnership and lower the long term tax outlook for ENLC.
"This transaction represents the second drop down from the General Partner to the Partnership, and we expect future transactions like this to play a significant role in EnLink Midstream’s growth strategy."
The divestment of remaining 25% stake in EMH is planned later in 2015.
