M&A Deal Summary

Enterprise Products Partners Acquires NOVA Chemicals - Ethylene Storage Business

On July 1, 2021, Enterprise Products Partners acquired chemicals company NOVA Chemicals - Ethylene Storage Business from NOVA Chemicals

Acquisition Highlights
  • This is Enterprise Products Partners’ 1st transaction in the Chemicals sector.
  • This is Enterprise Products Partners’ 1st transaction in Canada.
  • This is Enterprise Products Partners’ 1st transaction in Alberta.

M&A Deal Summary
Date 2021-07-01
Target NOVA Chemicals - Ethylene Storage Business
Sector Chemicals
Buyer(s) Enterprise Products Partners
Sellers(s) NOVA Chemicals
Deal Type Divestiture

Target

NOVA Chemicals - Ethylene Storage Business

Calgary, Alberta, Canada
NOVA Chemicals' Ethylene Storage Businessoperates an ethylene storage business and trading hub in Mont Belvieu, Texas.

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Buyer(S) 1

Buyer

Enterprise Products Partners

Houston, Texas, United States
Category Company
Founded 1968
Sector Oil/Gas Exploration
Revenue 49.7B USD (2023)
DESCRIPTION

Enterprise Products Partners a major North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Enterprise Products Partners was incorporated in 1968 and is based in Houston, Texas.

DEAL STATS #
Overall 18 of 20
Sector (Chemicals) 1 of 1
Type (Divestiture) 13 of 13
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 Enterprise Products Partners - Shin Oak Pipeline

Houston, Texas, United States

Enterprise Products Partners LP - Shin Oak Pipeline is a 658-mile Shin Oak Pipeline transports growing NGL production from multiple basins.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Navitas Midstream

The Woodlands, Texas, United States

Navitas Midstream is a producer-focused midstream company that provides a full slate of midstream services including gathering, treating, processing, fractionation, and pipeline transportation of natural gas, natural gas liquids, condensate and crude oil. Navitas Midstream is based in The Woodlands, Texas.

Buy $3.3B

Seller(S) 1

SELLER

NOVA Chemicals

Calgary, Alberta, Canada
Category Company
Founded 1954
Sector Chemicals
DESCRIPTION

NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life healthier, easier and safer. Our employees work to ensure health, safety, security, and environmental stewardship through our commitment to sustainability and responsible care. NOVA Chemicals was founded in 1954 and is based in Calgary, Alberta.

DEAL STATS #
Overall 1 of 1
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
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