ONEOK to Acquire Medallion and EnLink Stakes from GIP for $5.9 Billion

Aug 29, 2024, 02:36 AM

ONEOK Inc., a US pipeline operator, has announced its agreement to acquire Medallion Midstream and a controlling interest in EnLink Midstream from Global Infrastructure Partners. The transactions are valued at a combined $5.9 billion. The deal includes $3.3 billion for EnLink and $2.6 billion for Medallion. Additionally, $300 million of the total purchase price for the EnLink interests is allocated for GIP's 100% interest in the managing member of EnLink. This strategic acquisition aims to expand ONEOK's presence in the Permian Basin, a key area for oil and gas production.