Phillips 66 to buy PE-owned Pinnacle Midland for $550 mln :

Phillips 66 to buy PE-owned Pinnacle Midland for $550 mln

Phillips 66 on Monday agreed to acquire Pinnacle Midland, a midstream company owned by private equity firm Energy Spectrum Capital, for $550 million in cash, expanding the U.S. refiner's natural gas gathering and processing footprint in the Midland Basin.

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