Equitrans Midstream Acquires 100% Ownership of EQGP
January 10 2019 - 4:30PM
Business Wire
Equitrans Midstream Corporation (NYSE: ETRN) has completed its
exercise of the Limited Call Right, as previously announced, and
has purchased all remaining common units in EQGP Holdings, LP
(NYSE: EQGP) (EQGP Common Units) for $20.00 per unit in cash. Prior
to the Limited Call Right, ETRN closed certain private purchase
transactions and owned approximately 96% of the outstanding EQGP
Common Units. As a result of the private purchase transactions and
completion of the Limited Call Right, EQGP is now an indirect,
wholly owned subsidiary of ETRN.
EQGP has filed a Form 25 with the Securities and Exchange
Commission (SEC) to delist the EQGP Common Units and withdraw the
EQGP Common Units from registration under Section 12(b) of the
Securities Exchange Act of 1934, as amended (Exchange Act). The
EQGP Common Units will continue to be listed through January 21,
2019. On January 22, 2019, EQGP Common Units will no longer be
listed and, on that date, EQGP will file a Form 15 with the SEC
requesting that the reporting obligations of EQGP under the
Exchange Act be suspended.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation (ETRN) has a premier asset
footprint in the Appalachian Basin and is one of the largest
natural gas gatherers in the United States. With a rich 135-year
history in the energy industry, ETRN was launched as a standalone
company in 2018 and, through its subsidiaries, has an operational
focus on gas gathering systems, transmission and storage systems,
and water services assets that support natural gas producers across
the Basin. ETRN is helping to meet America’s growing need for
clean-burning energy and strives to provide a rewarding workplace
and to enrich the communities where its employees live and work.
ETRN owns the general partner interest and 100% of the limited
partner interest in EQGP Holdings, LP (NYSE: EQGP) and a 12.7%
limited partner interest in EQM Midstream Partners, LP (NYSE: EQM).
EQGP owns the general partner interest, all of the incentive
distribution rights, and a 17.9% limited partner interest in
EQM.
For more information on Equitrans Midstream Corporation, visit
www.equitransmidstream.com
About EQM Midstream Partners
EQM Midstream Partners, LP (EQM) is a growth-oriented limited
partnership formed to own, operate, acquire, and develop midstream
assets in the Appalachian Basin. As the third largest gatherer of
natural gas in the United States, EQM provides midstream services
to producers, utilities, and other customers through its
strategically located natural gas transmission, storage, and
gathering systems, and water services to support energy development
and production in the Marcellus and Utica regions. EQM owns
approximately 950 miles of FERC-regulated interstate pipelines and
approximately 2,130 miles of high- and low-pressure gathering
lines.
For more information on EQM Midstream Partners, LP, visit
www.eqm-midstreampartners.com
About EQGP Holdings
EQGP Holdings, LP (EQGP) is a limited partnership that owns the
general partner interest, all of the incentive distribution rights,
and a 17.9% limited partner interest in EQM Midstream Partners, LP.
Equitrans Midstream Corporation owns the general partner interest
and 100% of the limited partner interest in EQGP.
For more information on EQGP Holdings, LP, visit
www.eqm-midstreampartners.com
Cautionary Statements
Disclosures in this news release contain certain forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. Statements that do not relate strictly to
historical or current facts are forward-looking. Without limiting
the generality of the foregoing, forward-looking statements
contained in this news release specifically include the delisting
and deregistration of EQGP Common Units, and the suspension of
EQGP’s reporting obligations under the Exchange Act. These
statements involve risks and uncertainties that could cause actual
results to differ materially from projected results. Accordingly,
investors should not place undue reliance on forward-looking
statements as a prediction of actual results. ETRN has based these
forward-looking statements on current expectations and assumptions
about future events. While ETRN considers these expectations and
assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other
risks and uncertainties, many of which are difficult to predict and
beyond ETRN’s control. The risks and uncertainties that may affect
the operations, performance and results of ETRN’s business and
forward-looking statements include, but are not limited to, those
risks discussed in ETRN’s Registration Statement on Form 10 and
other filings with the Securities and Exchange Commission.
Any forward-looking statement speaks only as of the date on
which such statement is made and ETRN does not intend to correct or
update any forward-looking statement, whether as a result of new
information, future events or otherwise.
Information in this news release regarding EQM is derived from
publicly available information published by EQM.
Source: Equitrans Midstream Corporation
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version on businesswire.com: https://www.businesswire.com/news/home/20190110005735/en/
Analyst/Investor inquiries:Nate TetlowVice President,
Corporate Development and Investor
Relations412-553-5834ntetlow@equitransmidstream.com
Media inquiries:Natalie A. CoxDirector, Corporate
Communications412-395-3941ncox@equitransmidstream.com
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