Equitrans Midstream Completes Private Purchases of EQGP Common Units and Closes $600 Million Term Loan B

PITTSBURGH--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN) today announced that it has closed the previously announced private purchases of common units (EQGP Common Units) in EQGP Holdings, LP (NYSE: EQGP) for $20.00 per unit in cash (Private Purchases). As a result of the Private Purchases, ETRN and its affiliates now own more than 95% of the outstanding EQGP Common Units and ETRN has exercised the Limited Call Right under EQGP’s partnership agreement to acquire all remaining EQGP Common Units not already owned by ETRN and its affiliates. The Limited Call Right is expected to close on January 10, 2019, upon which time the remaining holders of EQGP Common Units will receive $20.00 per unit in cash. After giving effect to the Limited Call Right, EQGP will become an indirect, wholly owned subsidiary of ETRN and there will no longer be a public market for EQGP Common Units.