Energy Transfer To Acquire WTG Midstream In A Transaction Valued At $3.25B From Affiliates Of Stonepeak, The Davis Estate And Diamondback Energy; Consideration For The Transaction Will Be Comprised Of $2.45B In Cash And ~50.8M Newly Issued Energy Transfer Common Units
Portfolio Pulse from Benzinga Newsdesk
Energy Transfer (ET) is set to acquire WTG Midstream in a $3.25 billion transaction from affiliates of Stonepeak, The Davis Estate, and Diamondback Energy (FANG). The deal includes $2.45 billion in cash and approximately 50.8 million newly issued Energy Transfer common units.
May 28, 2024 | 12:12 pm
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Energy Transfer (ET) is acquiring WTG Midstream for $3.25 billion, which includes $2.45 billion in cash and 50.8 million newly issued ET common units. This acquisition is likely to expand ET's asset base and enhance its market position.
The acquisition of WTG Midstream will likely expand Energy Transfer's asset base and enhance its market position, which is positive for the company's growth prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Diamondback Energy (FANG) is selling its stake in WTG Midstream as part of a $3.25 billion transaction. This sale will provide FANG with significant cash inflow, which could be used to strengthen its balance sheet or fund other strategic initiatives.
The sale of WTG Midstream will provide Diamondback Energy with a significant cash inflow, which can be used to strengthen its balance sheet or fund other strategic initiatives, positively impacting its financial health.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80