Announced
Completed
Financials
Tags
Acquisition
Friendly
midstream assets
Majority
Single Bidder
United States
Public
Oil Equipment and Services
Domestic
Completed
Privatisation
Private Equity
Synopsis
CNX Resources, one of the largest independent natural gas exploration, development and production companies, completed the acquisition of the remaining stake in CNX Midstream Partners, a company that owns, operates, develops and acquires gathering and other midstream energy assets, for $357m. "We believe that this take-in transaction of CNX Midstream Partners is the optimal solution for all relevant stakeholders given the near- and long-term view of the MLP market. We expect the combined entity to be an even stronger company with a lower cost of capital and increased investable free cash flow," Nicholas J. DeIuliis, CNX Resources President and CEO.
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