South Korea's SK Holdings Co. Ltd. said May 18 it had decided to invest $250 million in Brazos Midstream Holdings LLC, a U.S. shale gas gathering and processing company, to expand its energy businesses.

The South Korean company said in a statement that the investment would be made through its U.S.-based unit Plutus Capital.

Brazos Midstream, a private natural gas and crude oil midstream company, is headquartered in Texas.

The company and its financial sponsor, Old Ironsides Energy, announced in early April that they had agreed to sell their Delaware Basin subsidiary companies to North Haven Infrastructure Partners II (NHIP II) and related funds for about $1.75 billion in cash.

Closing of the divestiture is expected in second-quarter 2018 and is subject to customary approvals and closing conditions. NHIP II is an investment fund managed by Morgan Stanley Infrastructure.