ONEOK to Acquire Brazos Midstream's Permian Midland Basin Assets for $4.425 Billion
Apollo Global Management will invest $9 billion in nonvoting minority equity in ONEOK to fund the acquisition of Brazos Midstream and extinguish existing debt. The investment is structured with a capped internal rate of return of 7.0% for the first nine years, with value creation above that cap accruing to ONEOK shareholders.
Key figures
- Deal Value Usd
- 9000000000
- Capped irr
- 7.0%
- Acquisition funded
- 4.425 billion
- Debt extinguishment
- 5 billion
AI analysis
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