Targa Resources to acquire Stakeholder Midstream for 1.25bn.

Targa Resources, a provider of midstream services and is one of the largest independent infrastructure companies in North America, agreed to acquire Stakeholder Midstream, an independent midstream oil and gas company, for 1.25bn. “This acquisition is a nice bolt-on asset that has meaningful free cash flow supported by a stable to modestly growing volume profile with minimal capital needs and executed at an attractive valuation. We believe this transaction is a continuation of our strategy of identifying opportunities to create shareholder value with balance sheet strength,” Matt Meloy, Targa Chief Executive Officer.