Blackstone Infrastructure Partners To Buy Controlling Stake In Tallgrass Energy

(RTTNews) - Tallgrass Energy LP (TGE) and Blackstone (BX) said that affiliates of Blackstone Infrastructure Partners or "BIP" reached a definitive agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of TGE's management, to acquire 100% of the membership interests in TGE's general partner, as well as an about 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion. Affiliates of GIC, Singapore's sovereign wealth fund, will be a minority investor in the transaction.

Closing of the transaction remains subject to customary closing conditions and is expected within the first quarter of 2019.