BRIEF-Kinetik Holdings To Buy Durango For $765 Mln-February 2024-www.financetom.com

BRIEF-Kinetik Holdings To Buy Durango For $765 Mln

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BRIEF-Kinetik Holdings To Buy Durango For $765 Mln

May 9, 2024 1:55 PM

May 9 (Reuters) - Kinetik Holdings Inc ( KNTK ):

* THE NEXT CHAPTER: $1 BILLION OF STRATEGIC, ACCRETIVE

NORTHERN

DELAWARE TRANSACTIONS AND DIVESTITURE OF ITS 16% INTEREST IN THE

GULF COAST EXPRESS PIPELINE

* KINETIK HOLDINGS INC ( KNTK ) - WILL ACQUIRE DURANGO FOR AN

AGGREGATE

$765 MILLION OF CASH AND EQUITY

* KINETIK HOLDINGS INC ( KNTK ): AGREED TO DIVEST ITS 16% EQUITY

INTEREST

IN GCX FOR 100% CASH FOR A TOTAL OF $540 MILLION

* KINETIK HOLDINGS INC ( KNTK ) - DEAL TO ACQUIRE DURANGO UP ALSO

HAS TO

$75 MILLION OF CONTINGENT CONSIDERATION TIED TO CAPITAL COST FOR

KINGS LANDING COMPLEX

* KINETIK HOLDINGS ( KNTK ) - TRANSACTIONS EXPECTED TO BE OVER 10%

ACCRETIVE TO FREE CASH FLOW PER SHARE STARTING IN H2 2025

Source text for Eikon:

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