EnLink Midstream Announces Intention to Pursue Strategic Alternatives
DALLAS, March 30, 2023 -
EnLink Midstream LLC (NYSE: ENLC) today announced its intention to pursue strategic alternatives to enhance long-term shareholder value. These alternatives may include, but are not limited to, a sale, merger, joint venture, or other strategic transaction.
The company has retained Goldman Sachs & Co. LLC as its financial advisor to assist in this process. EnLink Midstream's board of directors has formed a special committee of independent directors to oversee the process.
"We are taking this action to explore all available options to maximize value for our shareholders," said Barry E. Davis, EnLink Midstream's Chairman and CEO. "We believe that pursuing strategic alternatives will provide us with the greatest flexibility to achieve our long-term goals and deliver the best possible outcomes for all of our stakeholders."
EnLink Midstream is a leading provider of midstream energy services, including natural gas, crude oil, and natural gas liquids transportation, processing, and storage. The company operates more than 10,000 miles of pipelines and has a storage capacity of approximately 60 million barrels.
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