Energy Transfer LP to acquire WTG Midstream Holdings for $3.25bn, expanding its Permian Basin pipeline network.
Energy Transfer LP will buy WTG Midstream Holdings in a $3.25bn deal, expanding its pipeline network in the Permian Basin. The acquisition will include $2.45bn in cash and about 50.8mn newly issued Energy Transfer common units, and will be completed in the third quarter, subject to regulatory approval. WTG Midstream operates the largest private natural gas gathering and processing business in the Permian region of West Texas and New Mexico.
May 28, 2024
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