DCP Midstream, LP (NYSE:DCP) entered into an agreement to acquire Permian Basin Gathering and Processing Assets of Woodland Midstream II, LLC on June 14, 2022. The transaction is valued at $160 million. The transaction is expected to be funded using cash on hand and borrowings under DCPÆs existing bank facilities. The transaction is subject to customary regulatory approvals. The transaction is expected to be completed in the third quarter of 2022. Holland & Hart LLP acted as legal counsel to DCP. Intrepid Partners, LLC acted as financial advisor and McDermott Will & Emery LLP acted as legal advisor to Woodland Midstream II. The transaction is Immediately accretive transaction represents approximately 5.5 times EBITDA multiple.
DCP Midstream, LP (NYSE:DCP) completed the acquisition of Permian Basin Gathering and Processing Assets of Woodland Midstream II, LLC for approximately $160 million on August 1, 2022. DCP paid total consideration of approximately $ 161 million after post-closing adjustments, which was funded with cash and borrowings under our Credit Facility.