Energy Transfer to acquire Crestwood
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
Energy Transfer LP and Crestwood Equity Partners LP have announced that the parties have entered into a definitive merger agreement pursuant to which Energy Transfer will acquire Crestwood in an all-equity transaction valued at approximately US$7.1 billion, including the assumption of US$3.3 billion of debt, based on the closing price on 15 August 2023.
Under the terms of the agreement, Crestwood common unitholders will receive 2.07 Energy Transfer common units for each Crestwood common unit. The transaction is expected to close in the fourth quarter of 2023, subject to the approval of Crestwood’s unitholders, regulatory approvals, and other customary closing conditions. Upon closing, Crestwood common unitholders are expected to own approximately 6.5% of Energy Transfer’s outstanding common units.
Read the article online at: https://www.worldpipelines.com/business-news/17082023/energy-transfer-to-acquire-crestwood/
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