ONEOK sells three interstate gas pipelines to DT Midstream for $1.2B cash

ONEOK INC /NEW/

Assets sold: Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission.
Purchase price of $1.2 billion represents 10.8x EBITDA as of June 30, 2024.
Transaction expected to close in Q4 2024; subject to Hart-Scott-Rodino clearance.
Net proceeds to enhance financial flexibility and support deleveraging toward 3.5x target by 2026.
Boards of both ONEOK and DT Midstream unanimously approved the definitive agreement.

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