Riverstone, Southern Cross, and Vista Oil & Gas Commit USD205 Million to Establish Aleph Midstream
Posted On: 27 Jun 2019 | Source(s): Riverstone Holdings, Vista Oil & Gas
Alternative asset managers Riverstone Holdings and Southern Cross Group (SCG), Mexico-listed Vista Oil & Gas, and individual investors have agreed to invest USD205 million to establish Aleph Midstream, an Argentina-based midstream oil and gas company. Riverstone, SCG, and the management teams of Vista and Aleph together will invest USD160 million for a 79 percent stake in the new enterprise. Vista expects to contribute a majority of its midstream assets located in Argentina’s Neuquina basin, which have an estimated value of USD45 million, for a 22 percent stake in Aleph. The deal is subject to closing conditions and regulatory approvals and is expected to close in July 2019.