June 19 Energy Transfer Equity LP, the
pipeline company controlled by billionaire Kelcy Warren, is near
a deal to buy midstream energy company Targa Resources Corp
and its operating unit, Bloomberg reported, citing
people familiar with the matter.
Targa and its energy logistics unit, Targa Resources
Partners LP, could be valued at more than $15 billion,
Bloomberg reported, citing two of the people. (bloom.bg/1rcHIYN)
The deal could also involve another midstream energy
company, Regency Energy Partners LP, which is controlled
by Energy Transfer, the report said.
Targa Resources has a market value of about $5.27 billion
and Targa Resources Partners has a market capitalization of
about $8 billion.
The transaction would be the biggest North American pipeline
deal since Houston-based energy conglomerate Kinder Morgan Inc
bought El Paso Pipeline Partners for about $21
billion in 2012, Bloomberg said.
Energy Transfer could pay for the deal in cash and stock,
and the deal could be one of the largest ever arranged by
Warren, the report said.
Representatives for Energy Transfer and Targa could not be
immediately reached for a comment.
Earlier this week, pipeline company Williams Cos Inc
agreed to acquire control of natural gas and oil gathering
services provider Access Midstream Partners LP for
$5.99 billion, aiming to enlarge its role in the U.S. natural
(Reporting by Ankit Ajmera in Bangalore; Editing by Maju