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New Deal


Announced

Completed

DT Midstream completed the acquisition of an additional 26.25% stake in Millennium Pipeline for $552m.

Financials

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Transaction Value£484m
Consideration TypeCash
Capital Owned26%
Capital Bid For26%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Friendly

Domestic

Gas Distribution

Acquisition

Majority

Private

Single Bidder

gas pipeline

Completed

Synopsis

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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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