Energy Capital Partners seeks buyers for Summit Midstream stake: Bloomberg

(Reuters) — Private equity firm Energy Capital Partners is looking for buyers for its interest in Summit Midstream Partners LP (SMLP.N), a deal that would include a minority stake in the pipeline operator as well as ownership of its general partner, Bloomberg reported. The sale would also include some oil and gas gathering and processing operations in North Dakota, Colorado and Ohio owned by an affiliate of Summit Midstream, Bloomberg reported, citing people familiar with the matter. Energy Capital is working with Barclays Plc to find a buyer for the assets, which could fetch at least $2 billion, Bloomberg reported, citing one of the persons. Energy Capital owns about 44 percent limited partnership interest in Summit Midstream Partners LP through an entity called Summit Investments. The firm may also consider taking the assets public if offers are too low, the report said. Summit Midstream and Energy Capital were not immediately available to comment, while Barclays declined to comment. Texas-based Summit Midstream’s stock was down 12.6 percent at $18.71 in afternoon trading in a weak broader market.

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Energy Capital Partners seeks buyers for Summit Midstream stake: Bloomberg