Announced
Completed
Financials
Tags
United States
Friendly
Domestic
Gas Distribution
Acquisition
Majority
Private
Single Bidder
gas pipeline
Completed
Synopsis
DT Midstream, an operator of natural gas interstate and intrastate pipelines, completed the acquisition of an additional 26.25% stake in Millennium Pipeline, a gas distribution company, for $552m. “Increasing our ownership in a premium integrated asset like Millennium Pipeline directly aligns with our strategic investment thesis and accelerates our growth plan. This transaction also increases the revenue contribution from our pipeline segment, underpinned by take-or-pay contracts with high credit quality customers,” David Slater, DT Midstream President and CEO.
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