OGE Energy Corp OGE:NYSE

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OGE Energy Announces Closing of Energy Transfer, Enable Midstream Partners Merger

5:50PM ET 12/02/2021 MT Newswires
OGE Energy (OGE) said late Thursday Energy Transfer closed its acquisition of Enable Midstream Partners.

Under the deal terms, the entire roughly 111 million Enable common units owned by OGE were exchanged for 95.4 million Energy Transfer common units.

Energy Transfer also acquired the general partner interests of Enable from OGE and CenterPoint Energy for $10 million in cash. CenterPoint will pay OGE $30 million upon closing.

OGE, which now owns about 3% of the outstanding limited partner units of Energy Transfer, said the closing paves way for the company to become a pure-play electric utility.