EQT and Blackstone Create $3.5-Billion Joint Venture

EQT Corporation has agreed to sell minority interests in two of its pipelines, plus transmission and storage assets, to funds managed by Blackstone Credit & Insurance in a $3.5 billion cash deal to form a midstream joint venture. Under the terms of the transaction, Blackstone will provide EQT $3.5 billion of cash consideration in exchange for a non-controlling common equity interest in the joint venture, the U.S. natural gas giant said on Monday, in the latest midstream deal in the U.S. energy sector. The joint venture will consist of EQT’s…