Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Net Midstream Said to Explore Sale to Raise Capital for Pipeline

Net Holdings Management LLC, the pipeline company partly owned by ArcLight Capital Partners LLC, is exploring selling all or parts of itself to raise capital to finish a pipeline, said people with knowledge of the matter.

Net, which does business as Net Midstream, is working with Citigroup Inc. to find a buyer, said the people, who asked not to be identified because the matter is private. The entire company could fetch more than $500 million, said one of the people.

Citigroup has sent out offering books in recent weeks saying that Net Midstream is seeking to sell itself or raise capital, the people said. Robert Julavits, a spokesman for Citigroup, declined to comment. Heidi Milne, a spokeswoman for Boston-based ArcLight, and Jerry Dearing, co-president of Net Midstream, didn’t return calls seeking comment.

The Houston-based company, which operates six pipelines in Texas, according to its website, needs to raise money for a new 124-mile (200-kilometer) natural gas pipeline connecting Texas and Mexico, said the people. The pipeline is scheduled to be finished in December 2014, according to a February statement announcing the project.

ArcLight, founded in 2001, is a private-equity firm that focuses on energy companies, with more than $10 billion under management. The firm bought a 50 percent stake in Net Midstream in 2007, according to a press release at the time that didn’t disclose financial terms. The other half of the company is owned by its founders.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.