Blackstone, partners close deal for controlling interest in Tallgrass Energy

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Blackstone (NYSE:BX) says it has closed the purchase of the general partner of Tallgrass Energy (NYSE:TGE) as well as a ~44% stake in TGE itself from affiliates of Kelso & Co., The Energy & Minerals Group and an entity owned by some of TGE's management, for $3.2B.

Spain’s Enagas says it will pay $590M for a 10.93% indirect ownership interest in TGE and will own nearly 25% of the holding company at closing.

GIC, Singapore’s sovereign wealth fund, also is a minority investor in the transaction.

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