Blackstone Infrastructure Partners Closes Purchase of Controlling Interest in Tallgrass Energy
March 11 2019 - 4:15PM
Business Wire
Tallgrass Energy, LP (NYSE: TGE) and Blackstone (NYSE: BX) today
announced that affiliates of Blackstone Infrastructure Partners
(“BIP") have closed the purchase of 100 percent of the membership
interests in TGE’s general partner, as well as an approximately 44
percent economic interest in Tallgrass Energy from affiliates of
Kelso & Company, The Energy & Minerals Group and Tallgrass
KC, LLC, an entity owned by certain members of TGE’s management,
for total cash consideration of approximately $3.2 billion.
Affiliates of GIC, Singapore’s sovereign wealth fund, and Enagás, a
Spanish energy company, are minority investors in the
transaction.
About Tallgrass Energy
Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream
energy infrastructure company operating across 11 states with
transportation, storage, terminal, water, gathering and processing
assets that serve some of the nation’s most prolific crude oil and
natural gas basins.
To learn more, please visit our website
at www.tallgrassenergy.com.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies in which we invest, and the communities in
which we work. We do this by using extraordinary people and
flexible capital to help companies solve problems. Our asset
management businesses, with $472 billion in assets under
management, include investment vehicles focused on infrastructure,
private equity, real estate, public debt and equity, non-investment
grade credit, real assets and secondary funds, all on a global
basis. Further information is available at www.blackstone.com.
Follow Blackstone on Twitter @Blackstone.
About GIC
GIC is a leading global investment firm established in 1981 to
manage Singapore’s foreign reserves. As a disciplined long-term
value investor, GIC is uniquely positioned to invest in both the
public and private markets, including equities, fixed income, real
estate, private equity and infrastructure. In infrastructure, GIC’s
primary strategy is to invest directly in operating infrastructure
assets with a high degree of cash flow visibility and which provide
a hedge against inflation. These include mature, low to
moderate-risk assets in developed markets, complemented by
investments with higher growth potential in emerging markets.
Headquartered in Singapore, GIC employs over 1,500 people across 10
offices in key financial cities worldwide. For more information
about GIC, please visit www.gic.com.sg.
About Enagás
Enagás is a leading international energy company with 50 years’
experience. It is one of the companies with the most LNG terminals
in the world. It has a presence in Spain, the USA, Mexico, Chile,
Peru and Greece. It is also one of the shareholders in the Trans
Adriatic Pipeline (TAP), which will connect Greece, Albania and
Italy to bring natural gas from the Caspian Sea to Europe. The
company is certified as a Transmission System Operator (TSO) by the
European Union and is an international benchmark in the development
and operation of gas networks. It owns more than 12,000 km of gas
pipelines, three strategic storages and nine regasification plants.
In Spain, Enagás is the Technical Manager of the Gas System and has
developed the country's key gas infrastructures, making it a model
within Europe.
Listed on the IBEX 35 Spanish stock market, Enagás has also been
present in the main sustainability indexes such as the Dow Jones
Sustainability Index (DJSI), for eleven consecutive years. The
company is the world leader of its sector, according to the latest
DJSI revision.
Enagás is also committed to the fight against climate change
through initiatives to promote the use of renewable gases, such as
biomethane and hydrogen, and through the development of actions for
energy efficiency and sustainable mobility. For more information
about Enagás: www.enagas.es
Twitter: @enagas
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version on businesswire.com: https://www.businesswire.com/news/home/20190311005671/en/
Tallgrass Energy:Investor and Financial InquiriesNate
Lien, 913-928-6012investor.relations@tallgrassenergylp.comorMedia
and Trade InquiriesPhyllis Hammond,
303-763-3568phyllis.hammond@tallgrassenergylp.comBlackstone:Paula
ChirhartPublic Affairs,
Blackstone212-583-5011paula.chirhart@blackstone.com
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