Blackstone Inc. and its partners will invest $5.34 billion in Williams Companies Inc's power projects, including Socrates, Apollo, Aquila, Socrates the Younger, and Neo, the latter said in a statement on Monday.
According to the statement, the money will be invested in exchange for a 49% noncontrolling equity interest in the five Power Innovation projects, with the commitment encompassing "$4.4 billion, representing 49% of expected total growth capital expenditures, and approximately $0.9 billion of additional consideration to Williams."
Williams will still hold a 51% stake in the projects, maintaining commercial and operational control. The transaction will lessen Williams' "capital exposure and limit corporate debt."
https://breakingthenews.net/Article/Blackstone-to-invest-dollar5.34B-in-Williams/66685380
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.