Enterprise Grabs Navitas Midstream In $3.25 Billion'Surprise'Deal

摘要

ENTERPRISE Products Partners LP agreed on Jan.10 to acquire Navitas Midstream Partners LLC in a debt-free transaction for $3.25 billion in cash consideration,marking Enterprise's"surprise"entrance into the Midland Basin.Backed by Warburg Pincus LLC,Navitas provides natural gas gathering,treating and processing services in the core of the Midland Basin of the Permian.Enterprise's agreement to acquire the privately held company comes as a surprise,according to analysts with Tudor,Pickering,Holt & Co.(TPH),given Enterprise's recent capital discussions and messaged preference for downstream.