Overview
- 2PointZero, which announced the agreement Tuesday, will acquire a 100% stake in Traverse Midstream Partners for $2.25 billion.
- Traverse holds minority stakes in the Rover Pipeline and the Ohio River System, which move natural gas from the Utica and Marcellus shale plays to the Midwest, the U.S. Gulf Coast, and eastern Canada.
- The transaction remains subject to regulatory approvals and customary closing conditions.
- 2PointZero is executing the purchase through its ePointZero arm, according to a filing with the Abu Dhabi Securities Exchange.
- The deal underscores continued Gulf outbound investment during the regional conflict, with the UAE saying its $1.4 trillion U.S. investment plan remains on track.