Blackstone in talks to acquire EQT pipeline interests for $3.5B, Reuters says

Blackstone (BX) is in advanced discussions to purchase minority interests in the interstate natural gas pipelines owned by EQT Corp. (EQT) for roughly $3.5B, Reuters’ David French reports, citing people familiar with the matter. Should the talks be successful, the deal would help EQT reduce the debt pile it accumulated from its takeover of Equitrans Midstream earlier in 2024, the author notes. Blackstone intends to make the investment through its credit and insurance division, the author says, adding that a deal could be inked in the coming weeks.