Brief: Kinetik Holdings To Buy Durango For $765 Mln

Kinetik Holdings

09/05/2024 21:36

May 9 (Reuters) - Kinetik Holdings Inc  KNTK.N :
    * THE NEXT CHAPTER: $1 BILLION OF STRATEGIC, ACCRETIVE
NORTHERN
DELAWARE TRANSACTIONS AND DIVESTITURE OF ITS 16% INTEREST IN THE
GULF COAST EXPRESS PIPELINE
    * KINETIK HOLDINGS INC -  WILL ACQUIRE DURANGO FOR AN
AGGREGATE
$765 MILLION OF CASH AND EQUITY
    * KINETIK HOLDINGS INC: AGREED TO DIVEST ITS 16% EQUITY
INTEREST
IN GCX FOR 100% CASH FOR A TOTAL OF $540 MILLION
    * KINETIK HOLDINGS INC -  DEAL TO ACQUIRE DURANGO UP ALSO
HAS TO
$75 MILLION OF CONTINGENT CONSIDERATION TIED TO CAPITAL COST FOR
KINGS LANDING COMPLEX
    * KINETIK HOLDINGS - TRANSACTIONS EXPECTED TO BE OVER 10%
ACCRETIVE TO FREE CASH FLOW PER SHARE STARTING IN H2 2025

Source text for Eikon:  ID:nBwbrrBmxa 
Further company coverage:  KNTK.N 

 ((Reuters.Briefs@thomsonreuters.com;))