Energy Transfer Closes $3B WTG Midstream Acquisition
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
3180BB
Description
Energy Transfer has completed its acquisition of WTG Midstream Holdings in cash-and-stock transaction valued at $3.18 billion, Energy Transfer said on July 15.
Total consideration for the transaction was $2.275 billion in cash and approximately 50.8 million newly issued ET common units. Last month, Energy Transfer said that WTG’s 20% interest in the BANGL pipeline would not be included transaction, lowering the deal's value from its initial $3.25 billion price tag.
Energy Transfer’s acquisition will extend its reach into the Midland Basin with the addition of approximately 6,000 miles of complementary gas gathering pipelines. The assets tap into a growing supply of NGL and natural gas volumes.