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Equitrans Midstream Acquires 100% Ownership of EQGP
Friday 11 January 2019

11 January 2019 - US-based Equitrans Midstream Corp. (NYSE: ETRN) has completed its exercise of the Ltd. Call Right and has purchased all remaining common units in EQGP Holdings, LP (NYSE: EQGP) for USD 20.00 per unit in cash, the company said.

Prior to the Ltd. 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 Ltd. Call Right, EQGP is now an indirect, wholly owned subsidiary of ETRN.

Equitrans Midstream has an asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States.

EQM Midstream Partners is a growth-oriented limited partnership formed to own, operate, acquire, and develop midstream assets in the Appalachian Basin. EQM owns approximately 950 miles of FERC-regulated interstate pipelines and approximately 2,130 miles of high- and low-pressure gathering lines.

Guggenheim Securities, LLC and Goldman Sachs and Co. LLC acted as financial advisors to ETRN. Both advisors also provided committed financing in support of the Private Purchases and the exercise of the Ltd. Call Right. Baker Botts L.L.P. acted as legal counsel to ETRN.
Date Published: 11/01/2019
Target: EQGP Holdings, LP
Country: USA
Deal Size: 6bn (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Buyer: Equitrans Midstream Corp
Buyer Advisor: Guggenheim Securities , Goldman Sachs and Co., Baker Botts
Company buys remaining 4%