Blackstone Infrastructure Partners To Buy Class A Shares From Tallgrass Energy

(RTTNews) - Tallgrass Energy, LP (TGE) has reached a merger agreement pursuant to which affiliates of Blackstone Infrastructure Partners together with affiliates of Enagas, GIC, NPS and USS will acquire all of the publicly-held outstanding class A Shares of Tallgrass Energy for $22.45 in cash per class A share. The sponsors expect to fund the deal with approximately $3 billion of equity, with the remainder of the funding by debt.

Under the merger terms, Tallgrass Energy has agreed not to pay distributions during the pendency of the transactions contemplated by the agreement. The transaction is expected to close in the second quarter of 2020.