Energy Transfer to buy SemCAMS co-owner in $5.1 bln deal
SemGroup Corp (NYSE: SEMG), a Tulsa, Oklahoma-based midstream energy services company, has agreed to be acquired by Energy Transfer LP (NYSE: ET) in a cash-and-stock transaction valued at about US$5.1 billion, including debt. The deal is expected to close later this year or in early 2020. In a separate release, Energy Transfer said the benefits of the acquisition include a crude oil gathering and transportation presence in Canada's Alberta Basin. Earlier this year, SemGroup partnered with U.S. private equity firm KKR to create SemCAMS Midstream ULC, a $1.75-billion midstream infrastructure platform based in Calgary.
16 September 2019•3 mins read
