ONEOK Spends $3B On EnLink Midstream Stake, $2.6B On Medallion
ONEOK Spends $3B On EnLink Midstream Stake, $2.6B On Medallion
EnLink Midstream (NYSE:ENLC) shares are trading higher premarket Thursday after ONEOK, Inc. (NYSE:OKE) agreed to acquire Global Infrastructure Partners' (GIP) 43% stake in the company for $3 billion, or $14.90 per unit.
EnLink Midstream（紐交所：ENLC）的股票在週四盤前交易上漲，因爲ONEOk, Inc.（紐交所：OKE）同意以30億美元，或每單位14.90美元的價格收購Global Infrastructure Partners（GIP）在該公司的43%股權。
The per unit price represents a 12.8% premium over EnLink's closing market price as of Aug. 27, 2024.
每單位價格相當於2024年8月27日EnLink收盤市場價的12.8%溢價。
The deal also includes 100% of the managing member's interests for $300 million. This brings the total cash consideration to approximately $3.3 billion.
該交易還包括以3000萬美元購買託管成員全部權益。這使得總現金考慮金額約爲33億美元。
Separately, ONEOK will also acquire all equity interests in Medallion Midstream, LLC, for $2.6 billion in cash.
此外，ONEOk還將以26億美元現金收購Medallion Midstream, LLC的全部股權。
This acquisition, representing about 6.3 times the estimated 2025 EBITDA. It includes base case synergies, and pertains to Medallion's extensive crude gathering and transportation system in the Permian's Midland Basin.
這項收購約爲預計2025年EBITDA的6.3倍。它包括基準情況下的協同效應，並涉及Medallion在Permian的Midland盆地的廣泛原油採集和運輸系統。
The total transactions are valued at $5.9 billion.
總交易價值爲59億元。
The deals add 1.7 billion cubic feet per day to ONEOK's Permian gas processing capacity and 1.6 million barrels per day of Permian crude gathering capacity.
這些交易將使ONEOk的Permian天然氣處理能力增加17億立方英尺/天，Permian原油採集能力增加160萬桶/天。
ONEOK plans to leverage its expanded platforms to enhance service offerings for producers in the Permian Basin.
ONEOk計劃利用其擴展的平台爲Permian盆地的生產商提供增強服務。
The transactions are not cross-conditioned and are anticipated to close early in the fourth quarter of 2024.
交易並非交叉條件，預計將在2024年第四季度初期完成。
Synergies: The transactions are expected to support ONEOK's $2 billion share repurchase program.
協同效應：這些交易預計將支持ONEOK的20億美元的股份回購計劃。
Following these deals, ONEOK expects to achieve annual synergies of $250 million to $450 million within three years.
在這些交易之後，ONEOK預計將在三年內實現每年2.5億至4.5億美元的協同效應。
Following the transaction with GIP, EnLink will become a consolidated subsidiary of ONEOK for GAAP financial reporting.
與GIP交易完成後，EnLink將成爲ONEOK在美國通用會計準則財務報告中的一家合併子公司。
Investors can gain exposure to ENLC via Global X MLP ETF (NYSE:MLPA) and Alerian MLP ETF (NYSE:AMLP).
投資者可以通過global x mlp etf（NYSE:MLPA）和alerian mlp etf（NYSE:AMLP）獲得對ENLC的曝光。
Price Action: ENLC shares are up 13.22% at $14.90 premarket at the last check Thursday.
股價表現：在上週四最後一次檢查時，ENLC股價上漲了13.22%，報14.90美元。
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