MPLX LP to Acquire Remaining 55% Interest in BANGL, LLC
February 28, 2025
MPLX LP has signed a definitive agreement to acquire the remaining 55% interest in BANGL, LLC from affiliates of WhiteWater and Diamondback Energy for $715 million, with earnout payments up to a cap tied to financial performance metrics. The deal is expected to close in July 2025 and will make the BANGL Pipeline a wholly owned, consolidated asset of MPLX.
- Buyers
- MPLX LP
- Targets
- BANGL, LLC
- Sellers
- Affiliates of WhiteWater, Affiliates of Diamondback Energy, WhiteWater BANGL Holdings, LLC
- Industry
- Infrastructure
- Location
- Ohio, United States
- Transaction Type
- Buyout
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