UAE-based investment company 2pointzero Group PJSC has reached an agreement to buy US firm Traverse Midstream Partners LLC for $2.25bn.
According to a press release from 2pointzero, the agreement will be closed upon receipt of the necessary regulatory approvals.
Traverse Midstream owns a number of natural gas infrastructure assets, including interests in natural gas pipeline companies Rover Pipeline and Ohio River System. These pipelines deliver natural gas from the Utica and Marcellus shale plays to eastern Canada, the Gulf of Mexico and the U.S. Midwest.
2PointZero is part of the group of companies of UAE National Security Advisor and brother of UAE President Sheikh Tahnoon bin Zayed Al Nahyan.