Buyout Firm Astatine Seeks Sale of Stake in Texas Pipeline Operator
- Investment firm owns 38% stake in Texas pipeline operator
- Astatine moving away from investing in pipeline projects
Photographer: Andrew Burton/Getty Images
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Astatine Investment Partners is seeking the sale of its 38% stake in Texas pipeline operator Howard Energy Partners, people familiar with the matter said.
Closely held Howard Energy Partners had $300 million of earnings before interest, tax depreciation and amortization, said the people, who asked not to be identified because the deliberations are private. The deal is likely to give Howard an enterprise value of about $2 billion, said one of the people.