Reuters Was Right – Blackstone Paying EQT $3.5B for Pipeline Stake

November 25, 2024November 25, 2024

Just about one month ago, Reuters reported that sources “familiar with the matter” whispered to its reporters that private equity firm Blackstone is “in advanced talks” to acquire minority stakes in the interstate natural gas pipelines now owned by EQT Corp. (following its purchase of Equitrans Midstream) for a whopping $3.5 billion (see Blackstone Seeks to Buy Pipeline Stake from EQT for $3.5 Billion). The sources were right! This morning, EQT issued a press release to announce a deal for Blackstone to invest $3.5 billion in the company's midstream (pipeline) assets.

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