Targa Resources to Sell its Equity Interest in Gulf Coast Express Pipeline

Source: www.gulfoilandgas.com 2/3/2022, Location: North America

Targa Resources Corp. has executed agreements selling its wholly-owned subsidiary that holds a 25 percent equity interest in the Gulf Coast Express Pipeline (“GCX”) for $857 million. Targa expects to receive the full proceeds from the sale in the second quarter of 2022 following a customary call right period in favor of the other members of GCX.

J.P. Morgan is serving as Targa’s financial advisor and Vinson & Elkins LLP is acting as Targa’s legal counsel on the transaction.


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