Exit: ArcLight-backed NET Midstream to sell for $2.1bn


[Context: On August 3, ArcLight Capital-backed NET Midstream announced a deal to be acquired for $2.1bn by utility NextEra Energy (NYSE: NEP).]

JUNO BEACH, Fla. – August 3, 2015 – NextEra Energy Partners, LP (NYSE: NEP) announced an agreement to acquire seven natural gas pipelines in Texas. NextEra Energy Partners has entered into an agreement to acquire NET Midstream, a privately held developer, owner and operator of a portfolio of seven long-term contracted natural gas pipeline assets located in Texas. NET Midstream’s pipeline assets are all strategically located, serving power producers and municipalities in South Texas, processing plants and producers in the Eagle Ford Shale, and residential, commercial and industrial customers in the Houston area, and provide a critical source of natural gas transportation for low-cost, U.S.-sourced shale gas to Mexico.

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