RTTNews | Jan 10, 2022 07:35AM EST

07:35 Monday, January 10, 2022 (RTTNews.com) - Enterprise Products Partners L.P. (EPD) said its affiliate has entered into a definitive agreement to acquire Navitas Midstream Partners, LLC from an affiliate of Warburg Pincus LLC in a debt-free deal for $3.25 billion in cash. Navitas Midstream provides natural gas gathering, treating and processing services in the core of the Midland Basin of the Permian. This acquisition is expected to be completed in the first quarter of 2022.

Randy Fowler, co-chief executive officer and chief financial officer of Enterprise's general partner, said: "We believe this acquisition will be immediately accretive to distributable cash flow per unit. Based on the current outlook for commodity prices in 2023, which would be our first full year of ownership, we believe distributable cash flow accretion will be in the range of $0.18 to $0.22 per unit."

Read the original article on RTTNews ( https://www.rttnews.com/3253897/enterprise-products-partners-to-acquire-navitas-midstream-partners-quick-facts.aspx)

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