Blackstone Infrastructure Partners agrees to acquire controlling stakes in Tallgrass Energy

Blackstone Infrastructure Partners has entered into an agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, a unit of Tallgrass Energy (TGE), to acquire 100% of the membership interests in TGE’s general partner, as well as an approximately 44% economic interest in Tallgrass. 

The transaction represents a total consideration of US$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.