Targa Resources Corp. acquired Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition") for cash consideration of $111.6 million, a transaction completed in December 2024, structured as all cash.
Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition") operates in Logistics and Transportation, is based in United States - Gulf Coast (Cedar Bayou / Mont Belvieu, Texas area). Cedar Bayou Fractionators (CBF) is an NGL fractionation complex at Mont Belvieu, Texas — the primary U.S. hub for natural gas liquids infrastructure — with roughly 493 thousand barrels per day of gross fractionation capacity that Targa built up over the years by adding fractionation trains. In December 2024 Targa acquired the remaining 12% membership interest in CBF from its joint venture partner for $111.6 million in cash, bringing the facility to full ownership within its Logistics and Transportation segment.
Cedar Bayou Fractionators, L.P. within the Logistics and Transportation segment; wholly owned following the buyout.
On December 16, 2024, we completed the acquisition of the remaining 12% membership interest in Cedar Bayou Fractionators, L.P. ("CBF") from our joint venture partner for cash consideration of $111.6 million (the "CBF Acquisition"). The change in our ownership interests was accounted for as an equity transaction representing the acquisition of noncontrolling interests.Targa Resources Corp. FY2024 10-K, Note 4 - Acquisitions and Divestitures
Advisory firms were not disclosed for this transaction.