Advertisement
Singapore markets closed

  • Straits Times Index

    3,287.75
    -5.38 (-0.16%)
     

  • S&P 500

    4,998.10
    -73.53 (-1.45%)
     

  • Dow

    37,769.18
    -691.74 (-1.80%)
     

  • Nasdaq

    15,420.53
    -292.22 (-1.86%)
     

  • Bitcoin USD

    63,369.07
    -1,785.80 (-2.74%)
     

  • CMC Crypto 200

    1,376.21
    -6.36 (-0.46%)
     

  • FTSE 100

    8,061.51
    +21.13 (+0.26%)
     

  • Gold

    2,354.50
    +16.10 (+0.69%)
     

  • Crude Oil

    82.17
    -0.64 (-0.77%)
     

  • 10-Yr Bond

    4.7160
    +0.0640 (+1.38%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.25
    -2.23 (-0.14%)
     

  • Jakarta Composite Index

    7,155.29
    -19.24 (-0.27%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

Blackstone ends talks for $5 billion Energy Transfer stake

Reuters

(Reuters) - Private-equity firm Blackstone Group LP (BX.N) is no longer looking at buying a $5 billion (£4.1 billion) stake in Energy Transfer Partners (ETP.N), a source familiar with the matter confirmed on Monday.

In December, Blackstone was said to be looking at a stake in ETP, the company building the controversial Dakota Access Pipeline.

ETP shares fell 2.4 percent on Monday to close at $36.53 a share after the news, first reported by Bloomberg.

ETP announced a private placement of shares with its parent Energy Transfer Equity LP (ETE.N) on Monday, which will garner ETP proceeds of $568 million, in exchange for about 15.8 million common shares of ETP. Shares of the parent company lost 4.7 percent on Monday.

(Reporting by David Gaffen in New York; Editing by Jeffrey Benkoe and Sandra Maler)