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Targa Resources Corp. to Acquire Blackstone Energy Partners’ 25% Interest in Grand Prix NGL Pipeline for $1.05 Billion

Deals & Cases
January 3, 2023
Targa Resources Corp. to Acquire Blackstone Energy Partners’ 25% Interest in Grand Prix NGL Pipeline for $1.05 Billion Background Image
Deals & Cases
January 3, 2023

Vinson & Elkins advised Targa Resources Corp. (“Targa”), a leading provider of midstream services and one of the largest independent midstream infrastructure companies in North America, in the execution of a definitive agreement to acquire Blackstone Energy Partners’ 25 percent interest in Targa’s Grand Prix NGL Pipeline (“Grand Prix”) for $1.05 billion in cash plus customary working capital adjustments.

Targa will own 100 percent of Grand Prix upon closing.

The Vinson & Elkins corporate team was led by partner Benji Barron and associate Zac Horne. Also advising were partners Ryan Carney and Brian Russell; senior associate Caitlin Turner; and partner Darren Tucker.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 13 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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