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EQT Midstream to Acquire Marcellus Sunrise Pipeline

EQM Midstream Partners, LP EQT Corp
AnnouncedJul 16, 2013
TypeAsset
LocationMarcellus Shale
Announced Date
July 16,2013
Transaction Type
Asset




Snapshot
Location
Region
Northeast

Country
United States

State
West Virginia

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EQT Midstream Partners has agreed to acquire EQT Corporation’s wholly owned subsidiary, Sunrise Pipeline LLC, for $507.5 million cash and $32.5 million of common and general partners units.

EQT Midstream Partners also agreed to pay additional consideration of $110 million to EQT upon the effectiveness of a new transportation agreement with a third-party that the Partnership expects to become effective post-closing. In addition, the Partnership announced a $0.40 cash distribution per unit for the second quarter 2013, which represents a $0.03 or 8% increase over the first quarter 2013 cash…



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