One-Page Deal Sheet
Crestwood Sells Interest in Tres Palacios Gas Storage LLC
Brookfield Infrastructure Group Crestwood Midstream Partners Lp
Announced Date
November 24,2014
Close Date
December 04,2014
Transaction Type
Asset
Location
Region
Gulf Coast - South Texas
Country
United States
State
Texas
County
Matagorda ,Colorado ,Wharton
Play
Transaction Details: Require Private Equity Subscription
Closing Announcement - December 4, 2014
Crestwood Equity Partners LP and Crestwood Midstream Partners LP announced that Crestwood Equity has completed the previously announced sale of Tres Palacios Gas Storage LLC to the newly formed joint venture between Crestwood Midstream and an affiliate of Brookfield Infrastructure Group for total cash consideration of $130 million. Crestwood Midstream will own 50.01% of Tres Palacios Holdings LLC and will be the operator of Tres Palacios and its assets.
As part of the transaction, Brookfield Infrastructure has entered into five-year, fixed-fee contracts…