Five Point Energy Sells Minority Equity Stake In Leading Water Midstream Company WaterBridge Resources To Global Long-Term Investor GIC
Transaction Implies a WaterBridge Enterprise Value of Approximately $2.8 Billion
WaterBridge is Leading the Growth and Evolution of the Midstream Water Sector; Well-Capitalized and Poised to Pursue Accretive Growth Opportunities
HOUSTON, May 17, 2019 /PRNewswire/ — Five Point Energy LLC, a leading private-equity firm focused exclusively on the midstream energy sector, today announced that it has sold a minority equity stake in WaterBridge Resources LLC (together with its subsidiaries, “WaterBridge”) to affiliates of GIC, Singapore’s sovereign wealth fund (“GIC”). The minority equity position was acquired from funds affiliated with Five Point Energy and WaterBridge management. The transaction has closed and is not subject to any additional conditions. The purchase price implies a WaterBridge enterprise value of approximately $2.8 billion.