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Targa & Stonepeak DevCo

Company Summary

Description

Targa Resources Corp. has entered into development joint ventures with investment vehicles affiliated with Stonepeak Infrastructure Partners. The DevCo JVs own Targa’s 25% interest in the Gulf Coast Express Pipeline, a 20% interest in the Grand Prix Pipeline, and a 100% interest in Targa’s next fractionation train. Targa controls the management, day-to-day construction and operation of the Grand Prix Pipeline and the Company’s next fractionation train in Mont Belvieu.

Website

http://globenewswire.com/news-release/2018/02/06/1...

Related Entities

Recent news

  • 1/11/2022 - Targa to Acquire... (subscriber access)
  • 3/28/2018 - Gulf Coast Express... (subscriber access)
  • 2/6/2018 - Targa Resources &... (subscriber access)

Company Transactions

Date: 1/14/2022
Type: Acquisition

NOTES:
Targa has entered into a deal to repurchase interests in their development company joint ventures from Stonepeak Partners for $925 million. Pro-forma the closing, Targa will own a 75% interest in the Grand Prix NGL Pipeline, 100% of the Mont Belvieu Train 6 NGL Fractionator and a 25% stake in the Gulf Coast Express Pipeline.
REGIONS:
  • Lower 48