TransCanada Corp. has delivered on a plan to sell its U.S. merchant power assets in the Northeast, announcing that it would earn $3.7 billion for the business to help pay for its acquisition of Columbia Pipeline Group Inc. (CPG). In another move aimed at driving growth, the company said it would retain its interests in a growing portfolio of Mexican natural gas pipeline assets.
M&A
Articles from M&A
Baker Hughes, GE to Create ‘Digital, Industrial’ Oilfield Powerhouse in $32B Deal
In a blockbuster deal worth an estimated $32 billion, General Electric (GE) on Monday agreed to become majority shareholder in a partnership combining its oil and natural gas business with Baker Hughes Inc., creating the second largest oilfield operator in the world.
October 31, 2016
Dominion Drops Down Questar Pipeline to MLP in $1.725B Deal
Dominion Resources Inc. on Monday said Dominion Midstream Partners LP, its affiliated master limited partnership (MLP), will acquire Questar Pipeline LLC in a $1.725 billion drop-down that is expected to close Dec. 1.
October 31, 2016
GE Says Talks Ongoing For ‘Potential Partnerships’ With Baker Hughes
Baker Hughes Inc., still smarting after its mega-merger with Halliburton Co. was scuttled earlier this year, is in talks with General Electric (GE) regarding joint ventures, officials confirmed Friday.
October 28, 2016
American Midstream’s Friendly Tie-Up with JP Energy to Combine Onshore, Offshore NatGas-Heavy Enterprise
American Midstream Partners LP agreed Monday to merge with JP Energy Partners LP in a unit-for-unit transaction valued at $2 billion, which would create an enterprise with natural gas and oil pipelines and processing capacity stretching from the deepwater Gulf of Mexico (GOM) into the Permian Basin and through the Eagle Ford and Bakken shales.
October 24, 2016
Sempra’s Mexican Unit to Sell $1.43B in Stock to Buy Pemex Interest in Five JVs
San Diego-based Sempra Energy’s fast-growing Mexican unit, Infraestructura Energetica Nova, SAB de CV’s (IEnova), on Fridaypriced upcoming private and public sales of stock in an effort to raise US$1.43 billion to help acquire a 50% interest in a group of energy pipelines and an associated storage terminal from Mexico’s national energy company, Petroleos Mexicanos (Pemex).
October 17, 2016
Dril-Quip Ties Up with TIW; Oceaneering Nabs Blue Ocean
Two Houston-based offshore specialists are making deals as the oil and gas industry contracts, with Dril-Quip Inc., in its first acquisition ever, agreeing to buy crosstown operator TIW Corp., a century-old downhole oil and gas consumables manufacturer, while Oceaneering International Inc. is buying riserless well intervention specialist Blue Ocean Technologies LLC.
October 17, 2016
Freeport-McMoRan Taking $742M For California Onshore Assets
Freeport-McMoRan Inc.’s (FCX) lofty goal to expand its oil and natural gas exploration unit has fallen to earth with a thud after the company announced another piece of its portfolio is being sold: the onshore California oil and natural gas properties.
October 14, 2016
Private Equity Firm Acquiring Ohio-Based Gas Natural and Subsidiaries
The energy-focused private equity firm First Reserve has agreed to acquire Cleveland-based Gas Natural Inc. and its five subsidiary companies for an all-stock deal worth $196 million in yet another utility merger.
October 10, 2016
Talen Energy, Riverstone Holdings Merger On Track to Close by Year’s End
Talen Energy Corp. shareholders at a special meeting approved the company’s $5.2 billion merger with the energy- and power-focused private investment firm Riverstone Holdings LLC, satisfying a key condition for the transaction to close by the end of the year.
October 7, 2016
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