Kinetik (KNTK) just unveiled an announcement.
Kinetik Holdings Inc. has finalized its acquisition of Durango Permian, LLC from Durango Midstream LLC, an affiliate of Morgan Stanley Equity Partners, for approximately $765 million. The deal includes a mix of cash, common units, and shares, with additional shares to be issued in the future. Additionally, the seller could receive a $75 million earn out depending on the success of a specific project. As part of the agreement, the seller obtains certain rights including appointing a board observer and rights related to the resale of the acquired securities.
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