WASHINGTON (dpa-AFX) - Ares Management (ARES) said funds led by its Infrastructure Opportunities strategy have acquired 100% of the equity interests in Meade Pipeline Co LLC from affiliates of XPLR Infrastructure, LP. The investment represents a total cash consideration of approximately $1.1 billion.
Meade owns approximately 40% of the Central Penn Line, a FERC-regulated, 180-mile pipeline that transports natural gas from prolific production zones in the Marcellus and Utica Shale in Northeast Pennsylvania to demand centers in the Northeast, Mid-Atlantic and Southeast via interconnection with Williams Companies' Transcontinental Gas Pipe Line.
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