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EQM to buy stakes in Eureka Midstream and Hornet Midstream for $1bn

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Staff Writer | Friday March 15, 2019 8:30AM ET
Eureka Midstream
Acquisition   They will acquire a 60% interest in Eureka Midstream Holdings

Equitrans Midstream Corporation and EQM Midstream Partners announced that EQM has entered into a definitive agreement with a fund managed by Morgan Stanley Infrastructure Partners.


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They will acquire a 60% interest in Eureka Midstream Holdings and a 100% interest in Hornet Midstream Holdings for total consideration of $1,030 million, comprised of approximately $860 million in cash and approximately $170 million of assumed pro-rata debt.

The proposed acquisition is expected to close on or about April 15, 2019, subject to customary regulatory and other closing conditions.

 

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