One-Page Deal Sheet
Laredo, EMG Sell Ownership in Medallion Pipeline to GIP for $1.825B
Global Infrastructure Partners Energy & Minerals Group, Laredo Petroleum Inc.
Announced Date
October 02,2017
Close Date
October 30,2017
Transaction Type
Asset
Transaction Details: Require Private Equity Subscription
Laredo Petroleum and its subsidiary, Medallion Midstream, reached an agreement with Global Infrastructure Partners for the sale of 100% ownership interests in Medallion Gathering & Processing LLC for $1.825 billion in cash.
Medallion is jointly owned by Laredo and The Energy & Minerals Group (49% , 51% ownership, respectively). Upon closing, in exchange for its 49% interest in MGP, LMS will receive 49% of the purchase price (~$825 million).
The Medallion assets are focused in the Permian.
The deal closed on October 30, 2017.
Net cash proceeds to LMS from the Transaction at closing are…
Permian - Midland Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| May-25-2022 |
-  |
- |
Click here | Texas | Midstream |
| Jan-22-2022 |
- |
- |
Click here | Texas | Midstream |
| Nov-06-2019 |
- |
- |
Click here | Texas | Midstream |
| Oct-03-2019 |
- |
- |
Click here | Texas | Midstream |
| Dec-18-2018 |
- |
- |
Click here | Texas | Midstream |