Deals
TPG Terminates $930 Million Purchase of Goodnight Midstream
- Goodnight was unable to satisfy closing conditions, TPG said
- Company helps energy explorers handle water used in drilling
Photographer: Julia Schmalz/Bloomberg
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Private equity firm TPG Capital has canceled its agreement to buy oilfield water management company Goodnight Midstream for $930 million, according to TPG.
The parties terminated TPG’s deal to buy a majority stake in Goodnight from Tailwater Capital on July 5 because Goodnight was unable to satisfy certain closing conditions, a representative for TPG said in an emailed statement. TPG announced the deal in March.