Targa Resources Corp. acquires Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition")
Snapshot
Targa Resources Corp. acquired Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition") for cash consideration of $111.6 million in December 2024. The transaction was structured as all cash. Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition") is a United States - Gulf Coast (Cedar Bayou / Mont Belvieu, Texas area)-based Logistics and Transportation business.
- Acquirer
- Targa Resources Corp.
- Target
- Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition")
- Value
- cash consideration of $111.6 million
- Date
- December 2024
- Type
- joint-venture buyout (acquisition of remaining interest)
- Status
- ready
The deal at a glance
About this deal
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). On December 16, 2024, Targa completed the acquisition of the remaining 12% membership interest in Cedar Bayou Fractionators, L.P. ("CBF") from its joint venture partner for cash consideration of $111.6 million (the "CBF Acquisition"). The change in ownership interests was accounted for as an equity transaction representing the acquisition of noncontrolling interests.
Cedar Bayou Fractionators, L.P. within the Logistics and Transportation segment; wholly owned following the buyout.
No advisory firms have been disclosed for this transaction.