Williams To Acquire MountainWest Pipelines From Southwest Gas In $1.5 Bln Deal
(RTTNews) - Williams Cos. (WMB) announced Thursday that it has reached an agreement to acquire MountainWest Pipelines Holding Co. from Southwest Gas Holdings, Inc. (SWX), in a transaction including $1.07 billion of cash and $0.43 billion of assumed debt, for an enterprise value of $1.5 billion.
MountainWest comprises roughly 2,000-miles of interstate natural gas pipeline systems primarily located across Utah, Wyoming and Colorado, totaling approximately 8 Bcf/d of transmission capacity.
MountainWest also holds 56 Bcf of total storage capacity, including the Clay Basin underground storage reservoir, providing valuable service to western markets. The acquisition price represents an approximate 8x estimated 2023 EBITDA multiple.
The bolt-on acquisition expands Williams' midstream infrastructure footprint while increasing business mix of FERC-regulated natural gas transmission and storage.
The transaction is expected to close in 2023, following satisfaction of customary closing conditions, including regulatory approvals.
Southwest Gas Q4 Results Top Estimates
Southwest Gas Q2 Results Top Estimates
Southwest Gas Prices Of 3.58 Mln Share Underwritten Public Offering At $60.12/share
Switzerland Logs Weaker Growth, Trims 2026 Outlook
U.S. GDP Jumps More Than Previously Estimated In Q2
U.S. Weekly Jobless Claims Edge Down To 229,000
FTSE 100 Down 0.4% In Cautious Trade
