Natural Gas Utilities

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Energy Transfer Partners and Regency Energy Partners to merge in an $18 bln Unit for Unit Transaction

Monday, 26 Jan 2015

Energy Transfer Partners LP and Regency Energy Partners:Enters into a definitive merger agreement.Merger will be a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, that collectively implies a value for Regency of about $18.0 bln, including the assumption of net debt and other liabilities of $6.8 bln.Transaction is expected to close in the second quarter of 2015.Under the terms of the merger agreement, the unitholders of Regency will receive 0.4066 ETP common units and a cash payment of $0.32 for each common unit of Regency, implying an all-in price for Regency common units of $26.89 per unit based on ETP's closing price on Jan. 23.Consideration to be received by Regency common unitholders represents an about 13 pct premium to the closing price of Regency's common units of $23.75 on Jan. 23 and about 15pct premium to the volume weighted average price of Regency's common units for the last 3 trading days.In addition, Energy Transfer Equity, which owns the general partner and 100 pct of the incentive distribution rights (IDRs) of both Regency and ETP, has agreed to reduce the incentive distributions it receives from ETP by a total of $320 mln over a five year period.

Energy Transfer Partners and Regency Energy Partners to merge in an $18 bln Unit for Unit Transaction

Monday, 26 Jan 2015

Energy Transfer Partners LP and Regency Energy Partners:Enters into a definitive merger agreement.Merger will be a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, that collectively implies a value for Regency of about $18.0 bln, including the assumption of net debt and other liabilities of $6.8 bln.Transaction is expected to close in the second quarter of 2015.Under the terms of the merger agreement, the unitholders of Regency will receive 0.4066 ETP common units and a cash payment of $0.32 for each common unit of Regency, implying an all-in price for Regency common units of $26.89 per unit based on ETP's closing price on Jan. 23.Consideration to be received by Regency common unitholders represents an about 13 pct premium to the closing price of Regency's common units of $23.75 on Jan. 23 and about 15pct premium to the volume weighted average price of Regency's common units for the last 3 trading days.In addition, Energy Transfer Equity, which owns the general partner and 100 pct of the incentive distribution rights (IDRs) of both Regency and ETP, has agreed to reduce the incentive distributions it receives from ETP by a total of $320 mln over a five year period.

Energtek Inc completes land purchase in Vermont for Filling Station

Thursday, 22 Jan 2015

Energtek Inc:Finalizes the land purchase in Vermont for the filling station.

Nissan Shatai revises sale of land to Mitsui Fudosan and Tokyo Gas

Tuesday, 13 Jan 2015

Nissan Shatai Co Ltd:Revises sale of land, which was announced on July 25, 2013.To sell Kanagawa-based land of 143,270 square meters to Mitsui Fudosan Co Ltd, a Tokyo-based special purpose company and Tokyo Gas Co., Ltd.Former plan was to sell the Kanagawa-based land of 143,000 square meters to Mitsui Fudosan Co Ltd.

EnLink Midstream signs definitive agreement to acquire Permian Basin Crude Oil Logistics Company

Monday, 12 Jan 2015

EnLink Midstream companies, EnLink Midstream Partners, LP and EnLink Midstream, LLC:Says subsidiary of the Partnership has signed a definitive agreement to acquire LPC Crude Oil Marketing LLC (LPC), which has crude oil gathering, transportation and marketing operations in the Permian Basin, for about $100 mln.LPC currently purchases, transports and sells about 60,000 barrels per day of crude oil, serving as a critical link between Permian producers and end markets.Acquisition expands EnLink's service offerings in the Permian Basin, adding crude oil first purchasing and logistics capabilities to EnLink's existing natural gas gathering and processing services.Following the closing of the transaction, LPC will operate as an indirect subsidiary of the Partnership.EnLink Midstream companies, EnLink Midstream Partners, LP (the Partnership) and EnLink Midstream, LLC (General Partner) together called as EnLink.

ONEOK Partners LP completes acquisition of natural gas liquids assets

Monday, 1 Dec 2014

ONEOK Partners LP:Has completed acquisition of natural gas liquids (NGL) pipelines and related assets from affiliates of Chevron Corporation.Says acquisition for about $800 mln.ONEOK partners now owns an 80 pct interest in West Texas LPG Pipeline Ltd Partnership.

Tianjin Jinran Public Utilities Co Ltd enters purchase and sale agreement

Thursday, 27 Nov 2014

Tianjin Jinran Public Utilities Co Ltd:Says on Nov. 27, the company entered into a Purchase and Sales Agreement with Tianjin Yumin, pursuant to which Tianjin Yumin agreed to sell and the company agreed to purchase 20,000 gas meters at an aggregate purchase price of 7,000,000 Yuan.

Proposes combination of CitySpring Infrastructure Trust and Keppel Infrastructure Trust

Tuesday, 18 Nov 2014

CitySpring Infrastructure Trust:CitySpring Infrastructure Management Pte. Ltd. (CSIM), as trustee-manager of CitySpring Infrastructure Trust (CIT), agrees to combine CIT with Keppel Infrastructure Trust (KIT).KIT also agreed to acquire a 51 pct stake in Keppel Merlimau Cogen Pte Ltd (KMC), which owns a 1,300 mega watt combined cycle gas turbine generation facility on Jurong Island, Singapore.Says for a cash consideration of S$510 mln based on an enterprise valuation of S$1,700 mln.The KMC acquisition forms an integral part of the combination.Immediately after combination, but before proposed equity fund raising exercise to finance the KMC acquisition, the combined trust will be owned 53.4 pct and 46.6 pct by CIT and KIT unitholders, respectively.Keppel Corporation Limited through wholly-owned subsidiary, Keppel Infrastructure Holdings Pte. Ltd. (KI), will become unitholder with about 22.9 pct of combined trust, and.Says Temasek Holdings (Private) Limited through wholly-owned subsidiaries, will become second unitholder with about 19.97 pct of Combined Trust.

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