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Blackstone, Apollo, KKR to Invest $5.34 Billion in Williams' Power Innovation Projects

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Funds managed by Blackstone (BX) Credit & Insurance, in partnership with Apollo Global Management (APO) and KKR-managed (KKR) insurance vehicles will invest $5.34 billion in Williams' (WMB) five Power Innovation projects in exchange for a 49% noncontrolling equity interest in the projects, Williams said Monday.

The deal includes $4.4 billion and about $0.9 billion of additional consideration to Williams, which has a buyout right between years seven and 14 valued at the Blackstone outstanding investment balance amount, the company said.

Price: $124.09, Change: $+1.02, Percent Change: +0.83%

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