Crestwood Equity gains as Energy Transfer to buy co

Crestwood Equity Partners LP

16/08/2023 15:26

** Shares of O&G pipeline operator Crestwood Equity Partners
LP  CEQP.N  up 5.6% at $27.65
    ** Pipeline operator Energy Transfer LP  ET.N  says it will
buy CEQP in deal valued at about $7.1 bln, including $3.3 bln in
debt
    ** As per terms of deal, CEQP's common unit-holders will
receive 2.07 ET common units for each CEQP common unit, say cos
    ** Transaction is expected to close in Q4, after which CEQP
unit-holders are expected to own about 6.5% of ET's units
    ** ET shares up 2.1% at $12.82
    ** CEQP shares up 4.6% YTD
    

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))