Natural Gas Utilities
Grandblue Environment Co., Ltd:To acquire 100 pct stake in a Foshan-based environmental engineering company.Transaction price of 126.75 mln yuan.
UGI Corporation:Completed the previously announced acquisition of Total's liquefied petroleum gas (LPG) distribution business in France for 423 mln euros.Says acquisition nearly doubles UGI's retail distribution in France to about 500 mln gallons annually.company expects the transaction to be $0.14 to $0.18 per share dilutive for fiscal 2015 due to customary transaction expenses and the impact of acquiring the business during the non-core summer months.Transaction will be accretive in fiscal 2016 and beyond.
JP Energy Partners LP:Has completed the previously announced acquisition of substantially all of the assets of Southern Propane Inc.The $14.9 million acquisition is expected to be immediately accretive to JP Energy's distributable cash flow per unit and was funded from JP Energy's revolving credit facility and the issuance of about 267,000 JPEP units.
Enable Midstream Partners LP:On May 1, it completed acquisition of $80 million of strategic natural gas gathering assets in the Texas Panhandle from Monarch Natural Gas, LLC.The assets are underpinned by long-term dedication of 35,000 net acres from a producer who is a current Enable Midstream customer.The acquisition is immediately accretive to Enable Midstream.
JP Energy Partners announces acquisition of Southern Propane, Inc and new silver dollar pipeline system interconnection agreement with Magellan Midstream Partners, L.P.
JP Energy Partners LP:To acquire substantially all of the assets of Southern Propane Inc for about $14.9 mln.Acquisition is expected to close before the end of the second quarter of 2015 and will be funded through the use of cash from JP Energy's revolving credit facility and the issuance of about 267,000 JPEP units.Also executes an interconnection agreement with an affiliate of Magellan Midstream Partners, L.P.To connect its Silver Dollar Pipeline System to Magellan's Longhorn pipeline at Barnhart Terminal in Crockett County, TX.Connection is expected to be in service by the third quarter of 2015.
EnLink Midstream Partners completes acquisition of Victoria Express Pipeline in Dropdown Transaction with Devon Energy
EnLink Midstream Partners:Completed the acquisition of the Victoria Express Pipeline and related truck terminal and storage assets (VEX) from Devon Energy Corporation.Transaction is expected to be immediately accretive to the Partnership.
Chesapeake Utilities Corp:Completes merger of Gatherco Inc into Aspire Energy of Ohio, LLC , its newest wholly-owned subsidiary.Transaction had an aggregate value of about $59.2 million.
Indraprastha Gas Ltd:Acquired 47.5 mln shares (constituting 50 pct of present paid up capital) of Maharashtra Natural Gas Ltd (MNGL) in the first tranche at a price of 38 Indian Rupees per share from certain financial investor shareholders of MNGL.
EnLink Midstream Partners LP agrees to acquire Victoria Express Pipeline in dropdown transaction from Devon Energy
EnLink Midstream Partners LP:Enters into an agreement to acquire the Victoria Express Pipeline and related truck terminal and storage assets from Devon Energy Corporation.Total consideration for transaction is about $210-$220 mln, including about $171 mln in cash, about 338,000 of the Partnership's common units and EnLink's assumption of about $30-$40 mln in certain construction costs to expand the system to full capacity, subject to adjustments.Transaction, which is expected to close on or about April 1 is expected to be immediately accretive to the Partnership.