Blackstone to take controlling interest in Tallgrass Energy for $3.3B

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(Reuters) - Private equity firm Blackstone Group LP said it would buy a controlling interest in midstream energy company Tallgrass Energy LP for $3.3 billion.

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Under the deal, Blackstone will acquire a 44 percent economic interest in Tallgrass Energy and 100 percent of the membership interest in the company's general partner.

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Singapore's sovereign wealth fund, GIC, is also a minority investor in the deal.

The deal is expected to close in the first quarter of 2019.

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(Reporting by Bharath Manjesh in Bengaluru; Editing by Anil D'Silva)