HedgeCo.Net — ONEOK said Sunday it had agreed to buy Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets for $4.425 billion in cash, funded through a $9 billion nonvoting minority equity investment from funds and affiliates managed by Apollo. ONEOK’s investor-relations release is the primary. Apollo’s own press page independently carried the same $4.425 billion asset price and the same $9 billion equity line.
ONEOK intends to use $5 billion of the Apollo proceeds...
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