(Reuters) – Chevron Corp said on Friday it would buy the shares of pipeline operator Noble Midstream Partners LP, which it does not already own, in an all-stock deal valuing the company at $1.32 billion, a month after the U.S. oil major made a slightly smaller takeover offer.
Under the new agreement, Noble Midstream’s shareholders will get 0.1393 Chevron share for each Noble Midstream unit they own, Chevron said.
Chevron, the second-largest U.S. oil producer, in October closed a $4.1 billion all-stock purchase of smaller rival Noble Energy, gaining a nearly 63% stake in Noble Midstream alongside large shale and international natural gas reserves.
(Reporting by Shariq Khan in Bengaluru; Editing by Vinay Dwivedi)
