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Announced

Completed

Global Infrastructure Partners completed the acquisition of EnLink Midstream for $3.1bn.

Financials

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Transaction Value£2,737m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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midstream

oil & gas

Integrated Oil and Gas

gas distribution

natural gas

Gas Distribution

United States

Public

Acquisition

Friendly

Single Bidder

oil and gas

Completed

Private Equity

Majority

Synopsis

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Private equity firm Global Infrastructure Partners completed the acquisition of EnLink Midstream and EnLink Midstream Partners, distributors of natural gas, crude oil, and condensate, from Devon Energy Corporation, a hydrocarbon exploration company, for $3.1bn. "We are excited to commence our strategic partnership with GIP and look forward to expanding EnLink's strong foundation together. EnLink's platform, combined with GIP's deep midstream experience and potential new sources of capital, enhances our outlook for further value creation. GIP and EnLink share strong cultural alignment and are focused on the successful execution of EnLink's seven growth strategies," Michael J. Garberding, EnLink President and Chief Executive Officer.

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