Energy Transfer to acquire Crestwood in $7.1b deal
Transactions - AUGUST 16, 2023

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Energy Transfer to acquire Crestwood in $7.1b deal

by Released

Energy Transfer has plans to acquire Crestwood Equity Partners in an all-equity transaction valued at approximately $7.1 billion.

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 percent of Energy Transfer’s outstanding common units.

Houston-based Crestwood Equity Partners owns and operates midstream businesses in multiple shale resource plays across the United States.

Energy Transfer owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with nearly 125,000 miles of pipeline and associated energy infrastructure.

Forgot your username or password?