Targa Resources Corp. to Acquire Blackstone Energy Partners’ 25% Interest in Grand Prix NGL Pipeline for $1.05 Billion
Vinson & Elkins advised Targa Resources Corp. (“Targa”), a leading provider of midstream services and one of the largest independent midstream infrastructure companies in North America, in the execution of a definitive agreement to acquire Blackstone Energy Partners’ 25 percent interest in Targa’s Grand Prix NGL Pipeline (“Grand Prix”) for $1.05 billion in cash plus customary working capital adjustments.
Targa will own 100 percent of Grand Prix upon closing.
The Vinson & Elkins corporate team was led by partner Benji Barron and associate Zac Horne. Also advising were partners Ryan Carney and Brian Russell; senior associate Caitlin Turner; and partner Darren Tucker.
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