Divestiture/carve-outSep 9, 2026Pending
🇺🇸 United States
TETallgrass Energy, LP's crude oil businessEEnbridge Inc.
Energy › Midstream
Enterprise value$2.55BEnterprise value
AnnouncedSep 9, 2026
ConsiderationCash
StructureOther
RegionNorth America
Cross-borderYes
Contingent paymentNo
Overview
Enbridge Inc. agreed to acquire Tallgrass Energy, LP's crude oil business, including interests in Pony Express, Powder River Gateway, crude storage terminals and Stanchion Energy, for U.S.$2.55 billion in cash.
Deal rationale
The acquisition is presented as strengthening Enbridge's position as North America's leading crude oil transporter and expanding its footprint into the U.S. Rockies by connecting the Bakken, Powder River Basin and Denver-Julesburg basins through Cushing and complementing its Express-Platte system.
AI-generated from the SEC filingPendingEnergy › MidstreamUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | Undisclosed | |
|---|---|---|
| Enterprise value | $2.55B | Headline figure |
| Consideration | Cash |
Advisors
Buy-side
CCiti
Sell-side
None listed
Parties
Target
TETallgrass Energy, LP's crude oil business
- Headquarters
- United States
- Ticker
- —
Acquirer
EEnbridge Inc.
- Headquarters
- Canada
- Ticker
- —
Seller
TETallgrass Energy, LP
- Headquarters
- —
- Ticker
- —