May 17 (Reuters) – Private equity Five Point Energy LLC said on Friday it had sold its minority stake in water midstream company WaterBridge Resources LLC to affiliates of Singapore’s sovereign wealth fund, GIC.
The transaction implies an enterprise value of about $2.8 billion for WaterBridge, the private equity firm said.
A Wall Street Journal report here, citing a person familiar with the matter, said GIC bought 20% of the company from Five Point Energy. The transaction has closed and is not subject to any conditions, Five Point Energy said reut.rs/2M4W6aD in a statement. (Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur)