2 Firms Steer Blackstone's $3.3B Tallgrass Energy Deal

Law360 (January 31, 2019, 5:26 PM EST) -- Affiliates of Blackstone's infrastructure fund have agreed to buy a controlling interest in midstream energy infrastructure company Tallgrass Energy LP for about $3.3 billion, in a deal steered by Baker Botts LLP and Vinson & Elkins LLP, the companies said Thursday.

According to the joint statement, the Blackstone Infrastructure Partners affiliates agreed to buy all the membership interests in Kansas-based Tallgrass Energy's general partner in addition to a roughly 44 percent economic stake in the midstream company from affiliates of private equity firms Kelso & Co. and The Energy & Minerals Group as well as Tallgrass KC LLC — a company...

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