Targa to buy PE-backed Outrigger's three midstream subsidiaries for up to $1.5 bln

Targa Resources Corp has agreed to acquire Outrigger Energy LLC's three midstream subsidiaries in the Permian Basin for a cash consideration of up to $1.5 billion. The deal is expected to close in the first quarter of this year. Citi is serving as exclusive financial adviser to Outrigger on the transaction. Outrigger is backed by Denham Capital.

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