May 17, 2019 / 5:23 PM / a year ago

Five Point Energy sells stake in water midstream firm WaterBridge Resources

May 17 (Reuters) - Private equity Five Point Energy LLC said on Friday it had sold its minority stake in water midstream company WaterBridge Resources LLC to affiliates of Singapore’s sovereign wealth fund, GIC.

The transaction implies an enterprise value of about $2.8 billion for WaterBridge, the private equity firm said.

A Wall Street Journal report here citing a person familiar with the matter, said GIC bought 20% of the company from Five Point Energy. The transaction has closed and is not subject to any conditions, Five Point Energy said in a statement. (Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur)

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