Total, EVEP Sell Interest in Cardinal Midstream to S Koreans for $612M
In August MDN told you that a pair of Korean companies were sniffing around Cardinal Midstream Services--looking to buy up to a 34% stake in the company (see Cardinal Gas Courts S Koreans to Invest in Utica JV). Cardinal is a midstream operator (pipelines and processing plants) in the Utica Shale. The Koreans are sniffing no more. Yesterday, one of the investor/owners of Cardinal, French oil giant Total, announced they're selling their 25% stake in the company to two Korean companies...
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