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Equitrans Midstream acquires full ownership of EQGP

Equitrans Midstream Corp. acquired full ownership of EQGP Holdings LP after exercising a limited call right to purchase all EQGP common units it previously did not own for $20 per unit.

Equitrans on Dec. 31, 2018, completed the acquisition of additional limited partner interest in EQGP, which bumped up its ownership in the partnership to roughly 96%, according to a Jan. 10 news release.

Following the transaction, EQGP is now an indirect, wholly owned subsidiary of Equitrans Midstream. The partnership's common units would also be ceased to be listed on a public market starting Jan. 22.

The transactions are part of the company's plans to simplify its midstream family of companies.