(NYSE:KNTK) HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)--Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced it has entered into a definitive agreement to divest and directly transfer its 27.5% equity interest in EPIC Crude Holdings, LP (“EPIC Crude”), an affiliate of EPIC Midstream Holdings LP, to a wholly owned subsidiary of Plains All American Pipeline, L.P. and Plains GP Holdings (collectively “Plains”) for approximately $500 million in net upfront cash and an additional $96 m
Related Questions
How will the $500 million cash proceeds and $96 million earn‑out affect Kinetik’s liquidity and near‑term earnings forecasts?
What valuation multiple did Kinetik achieve for its 27.5 % stake in EPIC Crude compared to recent comparable mid‑stream asset transactions?
Will the removal of EPIC Crude exposure materially change Kinetik’s commodity‑price sensitivity and long‑term growth strategy, thereby affecting the stock’s risk profile?