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Tallgrass Energy closes buyout deal led by Blackstone infrastructure arm


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Tallgrass Energy closes buyout deal led by Blackstone infrastructure arm

Tallgrass Energy LP closed its previously announced merger transaction in which The Blackstone Group Inc.'s infrastructure arm Blackstone Infrastructure Partners and affiliates of Enagas SA, GIC Pte. Ltd., National Pension Service and USS purchased all of the remaining class A shares of Tallgrass held by the public for $22.45 in cash per share.

Tallgrass is the surviving entity and will continue to exist as a Delaware limited partnership owned directly or indirectly by the buyers, according to an April 17 SEC filing.

Tallgrass Energy's shareholders on April 16 approved the merger. The midstream partnership agreed to the take-private offer from the buyers in December 2019.

In addition, following the completion of the merger, the midstream partnership removed Roy Cook, Thomas Gerke and Terrance Towner from their positions as directors, according to another April 17 SEC filing. The midstream partnership appointed Matthew Sheehy, Alexander Greenbaum, Borja García-Alarcón Altamirano, Gavin Merchant and Stephen Bolze to serve as directors.