Targa Resources Corp. acquired Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition") for cash consideration of $111.6 million, a transaction completed in December 2024, structured as all cash.
Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition") operates in Logistics and Transportation, is based in United States - Gulf Coast (Cedar Bayou / Mont Belvieu, Texas area). On December 16, 2024, Targa completed the acquisition of the remaining 12% membership interest in Cedar Bayou Fractionators, L.P. ("CBF") from its joint venture partner for cash consideration of $111.6 million (the "CBF Acquisition"). The change in ownership interests was accounted for as an equity transaction representing the acquisition of noncontrolling interests.
Cedar Bayou Fractionators, L.P. within the Logistics and Transportation segment; wholly owned following the buyout.
On December 16, 2024, we completed the acquisition of the remaining 12% membership interest in Cedar Bayou Fractionators, L.P. ("CBF") from our joint venture partner for cash consideration of $111.6 million (the "CBF Acquisition"). The change in our ownership interests was accounted for as an equity transaction representing the acquisition of noncontrolling interests.Targa Resources Corp. FY2024 10-K, Note 4 - Acquisitions and Divestitures
Advisory firms were not disclosed for this transaction.