Funds managed by Blackstone (BX) Credit & Insurance, in partnership with Apollo Global Management (APO) and KKR-managed (KKR) insurance vehicles will invest $5.34 billion in Williams' (WMB) five Power Innovation projects in exchange for a 49% noncontrolling equity interest in the projects, Williams said Monday.
The deal includes $4.4 billion and about $0.9 billion of additional consideration to Williams, which has a buyout right between years seven and 14 valued at the Blackstone outstanding investment balance amount, the company said.
Price: 124.09, Change: +1.02, Percent Change: +0.83
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments