ETRN Closes EQM Incentive Distribution Rights Transaction

PITTSBURGH--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN), EQM Midstream Partners, LP (NYSE: EQM), and certain of their affiliates have closed the previously announced transaction to exchange and eliminate the EQM Incentive Distribution Rights (IDRs) and restructure the economic general partner interest in EQM. As part of the transaction, the IDRs and economic general partner interest in EQM were canceled in exchange for 80 million newly issued EQM common units and 7 million newly issued EQM Class B units, both of which represent limited partner interests in EQM, and ETRN retained a non-economic general partner interest in EQM.