Spain's Enagás SA will pay, as part of a consortium deal, $590 million for a 10.93% indirect ownership interest in U.S. energy infrastructure company Tallgrass Energy LP, the company said in a statement on March 11.

Enagás will partner with affiliates of U.S. investment firm Blackstone and Singapore’s sovereign wealth fund GIC on the deal for a stake in Tallgrass Energy, a U.S. energy infrastructure company which owns several interstate pipelines.

Blackstone will retain a majority, GIC will retain a minority stake and Enagás will own almost 25% of the holding company at closing, the Spanish energy company said in the statement.

Enagás has also agreed, following the closing, to acquire an additional 3.5% of the holding company for about $83 million, subject to the completion of conditions, the company said.