EQT forms midstream JV with Blackstone, receives $3.5B cash for MVP, Hammerhead, transmission assets

EQT Corp

EQT subsidiaries contribute MVP Series A interests, Equitrans transmission/storage, and Hammerhead pipeline to new JV.
Blackstone affiliate contributes $3.5B cash for Class B units; EQT receives Class A units.
Distributions: 40% Class A / 60% Class B until 7.875% IRR achieved, then 100% to Class A for 8 years.
EQM enters $2.3B bridge loan to refinance debt; JV cash repays it and remaining cash goes to EQM.
Closing subject to HSR and other conditions; target by March 2025, extendable to June 2025.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.