Energy Transfer Sells Portion of Rover Pipeline: Reuters
Texas-based Energy Transfer Partners says it's selling a large stake in its troubled under-construction Rover pipeline project to Blackstone funds for about $1.57 billion.
That's achieved by having Energy Transfer sell a 49.99% interest in ET subsidiary ET Rover Pipeline LLC, which owned a 65% stake in the pipeline, according to Reuters.
That would give a 32.44% overall stake in the pipeline to Blackstone Energy Partners and Blackstone Capital Partners, subsidiaries of The Blackstone Group, the famous New York City funds manager and private financial firm.
By Mike Shiloh
Copyright July 31, 2017, Mike Shiloh, Texas Energy Report LLC, www.texasenergyreport.com, All rights are reserved