Energy Transfer completes the acquisition of Enable Midstrea...

Energy Transfer completes the acquisition of Enable Midstream, with a transaction value of US$7.2 billion

$Energy Transfer (ET.US)$ $CenterPoint Energy (CNP.US)$ $OGE Energy (OGE.US)$ Energy Transfer (ET.US) and Enable Midstream (ENBL.US) announced the completion of the merger of the two companies.

Energy Transfer said that the combined company will have more than 114,000 miles of pipelines in the United States, which can generate more than $100 million in cost benefits each year.

After Enable's two largest shareholders, CNP.US and OGE Energy (OGE.US), approved the terms of the transaction, the transaction was quickly concluded. The two companies collectively own 79% of Enable.

Midpoint Energy said the company is taking measures to reduce the midstream risk after the merger.

Article excerpted from the US Stock Research Agency