Companies & Finance

Blackstone Energy Partners buy stake in HoldCo

Energy Transfer Interstate Holdings and ET Rover Pipeline have sold a 49.9% stake in HoldCo to Blackstone for $1.57 billion.
By Staff reporter 2 August 2017 0 27036

Energy Transfer Interstate Holdings and ET Rover Pipeline, subsidiaries of Pennsylvania-based Energy Transfer Holdings, have sold a 49.9% stake in HoldCo to Blackstone Energy Partners and Blackstone Capital Partners for $1.57 billion.

HoldCo owns a 65.0% interest in the 1,100 km Rover Pipeline, in which Blackstone will now have a 32.4% stake.

The Rover pipeline will increase gas delivery capacity from the Marcellus and Utica shale plays by nearly 90.6 million cubic metres per day.

The pipeline will also deliver gas to Canada for processing and resale to...