One-Page Deal Sheet
Devon Sells Off EnLink Midstream Interests to GIP for $3.125 Billion
Global Infrastructure Partners Devon Energy Corp
Announced Date
June 06,2018
Close Date
July 18,2018
Transaction Type
Asset
Location
Country
United States
Transaction Details: Subscribe to see
Devon Energy has agreed to sell its ownership interests in EnLink Midstream Partners / EnLink Midstream to an affiliate of Global Infrastructure Partners (GIP) for $3.125 billion.
This deal closed on July 18, 2018.
Devon's ownership interests in EnLink Midstream includes 115 million units in the general partner (NYSE: ENLC) and 95 million units in the master limited partnership (NYSE:ENLK). The company's interests in EnLink generated $265 million of cash distributions over the past year, valuing the transaction at approximately 12 times cash flow. The transaction is subject to customary terms…
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