Equitrans Midstream to Eliminate Incentive Distribution Rights

PITTSBURGH--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN), EQM Midstream Partners, LP (NYSE: EQM), and certain of their affiliates today announced that they have entered into a definitive agreement to exchange and eliminate the EQM Incentive Distribution Rights (IDRs) and restructure the economic general partner interest in EQM. As outlined, the agreement exchanges the IDRs for 80 million newly issued EQM common units and 7 million newly issued EQM Class B units, both representing limited partner interests in EQM; and provides ETRN a non-economic general partner interest in EQM (IDR Elimination Transaction).