MPLX (MPLX) said Friday it has signed a deal with WhiteWater and Diamondback Energy (FANG) affiliates to buy the remaining 55% stake in the BANGL Pipeline for $715 million.
The deal, due to be completed in July, is immediately accretive and will will likely generate mid-teen returns for the partnership, MPLX said.
The company also said it would make additional earnout payments, subject to the achievement of certain financial performance metrics.
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