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Tallgrass Energy Partners to acquire additional interest in Pony Express Pipeline


Published Jan 5, 2016
Tallgrass Energy Partners, LP

Tallgrass Energy Partners, LP has decided to acquire an additional 31.3 percent interest in Tallgrass Pony Express Pipeline, LLC for cash consideration of $475 million and 6.518 million TEP common units issued to Tallgrass Development.

Based on TEP's December 31st closing price of $41.21, the total consideration of approximately $743.6 million represents a multiple of approximately 9.0x incremental cash flow to TEP as a result of the acquisition.

The acquisition increases TEP's membership interest in Pony Express to 98 percent.

Tags: Tallgrass Energy Partners




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