US FTC approves deal for natgas producer EQT to buy THQ Appalachia (updated)

Inductance Energy

16/08/2023 21:58

(Recasts with deal approval)
       Aug 16 (Reuters) - EQT Corp  EQT.N , the biggest U.S.
natural gas producer, said on Wednesday that it had won
antitrust approval to close a deal to buy Quantum Energy-backed
THQ Appalachia I LLC and associated infrastructure.
        The proposed deal, valued at $5.2 billion, had been
announced in September 2022.  urn:newsml:reuters.com:*:nL4N30D3E7
  
        EQT said that the parties had satisfied conditions
related to antitrust law and could move forward with closing the
transaction.
  
    The U.S. Federal Trade Commission said on Wednesday it had
moved to resolve antitrust concerns over the transaction by
hammering out a consent order that "prevents entanglements"
between Quantum Energy Partners and EQT Corp.
    The agreement would bar Quantum from having a seat on EQT's
board, requires Quantum to divest EQT shares and puts other
restrictions on the deal to ensure competition in the energy
market.

 (Reporting by Diane Bartz, Rami Ayyub and Dan Whitcomb; Editing
by Eric Beech and Marguerita Choy)
 ((Dan.Whitcomb@tr.com; 310-491-7290;))