One-Page Deal Sheet
Tallgrass to Acquire Additional Interest in Pony Express Pipeline
Tallgrass Energy, LP Not Disclosed
Announced Date
January 04,2016
Transaction Type
Asset
Transaction Details: Subscribe to see
Tallgrass Energy Partners, LP is acquiring 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.
Tallgrass President and CEO, David G. Dehaemers, Jr. commented: "This acquis…
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