United States $52 Billion Energy Giant ONEOK Buys 2 Equity Investments from Global Infrastructure Partners (GIP) for $5.9 Billion, 43% of EnLink Midstream & 100% of Managing Member for $3.3 Billion and Medallion Midstream for $2.6 Billion

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United States $52 Billion Energy Giant ONEOK Buys 2 Equity Investments from Global Infrastructure Partners (GIP) for $5.9 Billion, 43% of EnLink Midstream & 100% of Managing Member for $3.3 Billion and Medallion Midstream for $2.6 Billion

30th August 2024 | Hong Kong

United States energy giant ONEOK ($52 billion market value) has announced to buy 2 equity investments from Global Infrastructure Partners (GIP) with $115 billion AUM for $5.9 billion, 1) 43% of EnLink Midstream & 100% of managing member for $3.3 billion, and 2) Medallion Midstream for $2.6 billion.  Announcement (28/8/24): “ONEOK, Inc. (NYSE: OKE) (“ONEOK”) today announced that it has executed a definitive agreement with Global Infrastructure Partners (“GIP”) under which ONEOK will acquire GIP’s entire interest in EnLink Midstream, LLC (NYSE: ENLC) (“EnLink”), consisting of 43% of EnLink’s outstanding common units for $14.90 per unit and 100% of the interests in the managing member for $300 million, for total cash consideration of approximately $3.3 billion. ONEOK and GIP also entered into a separate definitive agreement under which ONEOK will acquire from GIP all of the equity interests in Medallion Midstream, LLC (“Medallion”), the largest privately held crude gathering and transportation system in the Permian’s Midland Basin, for $2.6 billion in cash representing approximately 6.3 times estimated 2025 EBITDA, including expected base case run-rate synergies.”

“ United States $52 Billion Energy Giant ONEOK Buys 2 Equity Investments from Global Infrastructure Partners (GIP) for $5.9 Billion, 43% of EnLink Midstream & 100% of Managing Member for $3.3 Billion and Medallion Midstream for $2.6 Billion “

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ONEOK – At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, NGLs, refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.  ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma.

Global Infrastructure Partners (GIP) – Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. Headquartered in New York, GIP has offices in Brisbane, Dallas, Hong Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney. GIP has approximately $115 billion in assets under management. GIPs portfolio companies have combined annual revenues of approximately $71 billion and employ over 116,000 people. GIP believes that its focus on real infrastructure assets, combined with its deep proprietary origination network and comprehensive operational expertise, enables it to be responsible stewards of investor capital and to create positive economic impact for communities. 

United States $52 Billion Energy Giant ONEOK Buys 2 Equity Investments from Global Infrastructure Partners (GIP) for $5.9 Billion, 43% of EnLink Midstream & 100% of Managing Member for $3.3 Billion and Medallion Midstream for $2.6 Billion

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