Blackstone PE Business To Pay $2 Billion To Buy EagleClaw Midstream Ventures

By Tomi KilgoreMarketsMarketWatch Pulse

Blackstone Group LP's energy-focused private-equity business, Blackstone Energy Partners and Blackstone Capital Partners agreed Monday to buy EagleClaw Midstream Ventures LLC for $2 billion in cash. The deal is expected to close by the end of July, and includes $1.25 billion in debt financing, provided by Jefferies LLC. EagleClaw is a privately-held midstream operator in the Permian's Delaware Basin in West Texas. EagleClaw's management and nearly all of the company's employees will remain in their jobs, the companies said. Blackstone's stock, which was inactive in premarket trade, has tacked on 6.8% year to date, while the S&P 500 has gained 4%.

Copyright © 2017 MarketWatch, Inc.

Continue Reading Below