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

(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.

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