EQT Midstream Partners (EQM) Announces $275M Acquisition of TSG Assets from EQT Corp (EQT)
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EQT Midstream Partners Acquires Transmission, Storage and Gathering Assets from EQT Corporation
October 13, 2016 4:15 PM EDTPITTSBURGH--(BUSINESS WIRE)-- EQT Midstream Partners, LP (NYSE: EQM) today announced that it has acquired the Allegheny Valley Connector transmission and storage system, along with several Marcellus gathering systems from EQT Corporation (NYSE: EQT) for $275 million in cash. EQM funded the acquisition with borrowings from its revolving credit facility. The acquisition was effective October 1, 2016 and is expected to be immediately accretive to EQMs distributable cash flow per unit.
The Allegheny Valley Connector (AVC) is regulated by the Federal Energy Regulatory Commission (FERC) and includes approximately 209 miles of... More
