(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.
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.
Singapore’s sovereign wealth fund, GIC, is also a minority investor in the deal. (reut.rs/2CUzTUJ)
The deal is expected to close in the first quarter of 2019.
Reporting by Bharath Manjesh in Bengaluru; Editing by Anil D’Silva