Targa Resources Corp. acquires Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition")

Targa Resources Corp. acquired Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition") for cash consideration of $27.0 million, a transaction completed in December 2023, structured as all cash.

Carnero G&P LLC - remaining 50% membership interest ("Carnero Acquisition") operates in Gathering and Processing, is based in United States - South Texas. Targa acquired the remaining 50% membership interest in Carnero G&P LLC in December 2023 for cash consideration of $27.0 million, structured as an all-cash purchase accounted for as an equity transaction. The deal consolidated Targa's ownership of the Carnero gathering and processing operations in South Texas.

Carnero G&P LLC, wholly owned within the Gathering and Processing segment following the buyout.

In December 2023, we completed the acquisition of the remaining 50% membership interest in Carnero G&P LLC ("Carnero") from our joint venture partner for cash consideration of $27.0 million (the "Carnero 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.

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