HOUSTON, April 03, 2019 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company")
announced today that it has closed on the sale of a 45 percent interest in Targa Badlands LLC, the entity that holds all of Targa’s
assets in North Dakota, to funds managed by GSO Capital Partners and Blackstone Tactical Opportunities (collectively, “Blackstone”)
for $1.6 billion in cash.
About Targa Resources Corp.
Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent
midstream energy companies in North America. Targa owns, operates, acquires, and develops a diversified portfolio of complementary
midstream energy assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, and
selling natural gas; storing, fractionating, treating, transporting, and selling NGLs and NGL products, including services to LPG
exporters; gathering, storing, terminaling, and selling crude oil; storing, terminaling, and selling refined petroleum
products.
For more information, please visit our website at www.targaresources.com.
Contact the Company's investor relations department by email at InvestorRelations@targaresources.com or by phone at (713)
584-1133.
Sanjay Lad
Director - Investor Relations
Jennifer Kneale
Chief Financial Officer
About Blackstone
Blackstone is one of the world’s leading investment firms. Blackstone seeks to create positive economic impact and long-term
value for our investors, the companies we invest in, and the communities in which we work. Blackstone does this by using
extraordinary people and flexible capital to help companies solve problems. Blackstone’s asset management businesses, with over
$472 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and
equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at
www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
Contact:
Blackstone Public Affairs
Paula Chirhart
212-583-5011
Paula.chirhart@blackstone.com
![Primary Logo](https://ml.globenewswire.com/media/4adbb0ec-38d0-43ea-8650-c8ebf185d0be/small/targa-jpg.jpg)