Enbridge Nears $2B Deal for Blackstone's Pony Express Pipeline
BX sits 27% above its 52-week low of $101.73.
Summary
Blackstone is close to selling the Pony Express crude pipeline, owned through Tallgrass Energy, to Enbridge for about $2 billion. The deal could be announced within days, though talks may still fall through. This would be a significant monetization for Blackstone's energy infrastructure portfolio, following its recent $7 billion sale of Aypa Power to Brookfield. The transaction would add to Blackstone's realization revenue and support its dividend. Watch for an official announcement in the coming days.
At the time of this announcement, BX was trading at $129.05 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $160.3B. The 52-week trading range was $101.73 to $190.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.