Targa Resources Corp. acquires Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition")
Snapshot
Targa Resources Corp. acquired Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition") for cash consideration of $27.0 million in December 2023. The transaction was structured as all cash. Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition") is a United States - South Texas-based Gathering and Processing business.
- Acquirer
- Targa Resources Corp.
- Target
- Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition")
- Value
- cash consideration of $27.0 million
- Date
- December 2023
- Type
- joint-venture buyout (acquisition of remaining interest)
- Status
- ready
The deal at a glance
About this deal
Targa Resources Corp. acquired Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition") for cash consideration of $27.0 million, a transaction completed in December 2023, structured as all cash.
Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition") operates in Gathering and Processing, is based in United States - South Texas. In December 2023, Targa completed the acquisition of the remaining 50% membership interest in Carnero G&P LLC ("Carnero") from its joint venture partner for cash consideration of $27.0 million (the "Carnero Acquisition"). The change in ownership interests was accounted for as an equity transaction representing the acquisition of noncontrolling interests.
Carnero G&P LLC, wholly owned within the Gathering and Processing segment following the buyout.
No advisory firms have been disclosed for this transaction.