Enterprise Products to Buy Midstream Assets

Pipeline company Enterprise Products Partners LP said it would buy member interests in EFS Midstream LLC from affiliates of Pioneer Natural Resources Co (PXD) and Reliance Industries Ltd for $2.15 billion.

The purchase price of this deal, which is expected to close in the third quarter, will be paid in two installments, Enterprise Products said on Monday.

EFS Midstream was formed by affiliates of Pioneer Natural and Reliance Industries in June 2010 to construct, own and operate facilities providing gas gathering, treating, and transportation services in the Eagle Ford Shale in South Texas.

(Reporting by Sneha Banerjee in Bengaluru)