Natural Gas Utilities
Acsm-Agam SpA:Says the Board of Acsm-Agam, Gelsia Srl and AEB SpA approved the signing of a non-binding Letter of Intent.The Letter of Intent outlines the guidelines for a project of industrial and corporate aggregation.The companies expects to set the terms of the project in the next weeks and thus submitted to the Boards and shareholders.
Southwest Gas Corp:Says through its subsidiaries, led principally by NPL Construction Co., it signs agreements to acquire several privately held, affiliated construction companies for about $185 mln in cash less assumed debt and subject to a working capital adjustment.NPL, company's primary construction services subsidiary, has agreed to acquire Link-Line Group of Companies.Which includes Link-Line Contractors Ltd., W.S. Nicholls Construction Inc., W.S. Nicholls Industries Inc., and fifty percent equity interest in W.S. Nicholls Western Construction Ltd., all Canadian-based construction companies.In related transaction, other affiliates of cCompany have agreed to acquire certain assets and liabilities of Brigadier Pipelines Inc., a US based affiliate of Link-Line Group of Companies.Current owners will retain small ownership percentage in combined businesses.Combination of NPL and Link-Line will create one of largest natural gas distribution contractors in North America.W.S. Nicholls adds diverse line of construction and fabrication services not presently offered by NPL in its existing markets.Similarly, Brigadier brings potential for development of midstream pipeline construction business.Acquisitions expected to be completed during Oct.
Laclede Group Inc:Completes its purchase of 100 pct of the equity of Alabama Gas Corp (Alagasco) from Energen Corp (NYSE: EGN) effective Aug. 31.Purchase price included the assumption of $250 mln of Alagasco long-term debt and cash consideration of about $1.35 bln.Cash consideration was raised in separate debt and equity offerings completed in the last three months.
Energy Transfer Partners LP and Susser Holdings Corporation:Says completion of the previously announced merger of indirect wholly owned subsidiary of ETP, with and into Susser, with Susser surviving merger as subsidiary of ETP.Says Susser shareholders will receive 50 pct of the merger consideration in cash and 50 pct in ETP common units.Says total consideration to be paid in cash will be about $875 mln and total consideration to be paid in equity will be about 15,807,605 ETP common units.Barclays and Credit Suisse acted as financial advisors, Morgan Stanley & Co. LLC delivered a fairness opinion to the Board of ETP.Vinson & Elkins acted as legal counsel to ETP, and Bingham McCutchen acted as tax counsel to ETP.BofA Merrill Lynch acted as financial advisor and Gibson, Dunn & Crutcher LLP acted as legal counsel to Susser.
NIPPON GAS CO LTD:To acquire simple gas business from Saitama-based company at price of 60 mln yen.Effective Oct. 10.
American Midstream Partners LP closes acquisition of offshore oil gathering assets from DCP Midstream
American Midstream Partners LP:Completes acquisition of entities holding offshore oil gathering assets from an affiliate of DCP Midstream, LLC (DCP).On July 14, 2014, Partnership announced execution of purchase and Sale Agreement (PSA) for acquisition from DCP of entities holding onshore natural gas processing and offshore natural gas gathering and transportation and oil gathering assets for consideration of about $115 mln.Assets to be acquired included Mobile Bay gas processing plant (Mobile Bay), Dauphin Island gathering and transmission system (DIGP), and DCP's interest in the Main Pass Oil Gathering System (MPOG).
Exterran Partners LP:Announced that Exterran Partners has completed its previously announced acquisition of natural gas compression assets from MidCon Compression, L.L.C., a subsidiary of Chesapeake Energy Corporation.For about $135 million.Assets acquired include 162 compression units, with a total horsepower of about 110,000.
Envestra Ltd:Says that CK ENV Investments Pty Ltd holds 1,446,919,389 person’s votes representing 80.53 pct.voting power of the company.Previously it had an interest of 647,862,523 person’s votes representing 36.06 pct.voting power of the company.
American Midstream Partners LP:Announced that the approval of the Partnership's exercise of its right-of-first-offer to acquire the Gonzales County full-well-stream gathering system from an affiliate of ArcLight Capital Partners, LLC.Partnership also executed an option agreement to acquire a 50 percent interest in Republic Midstream, LLC from an affiliate of ArcLight.Acquisitions of these assets would complement the Partnership's existing natural gas gathering and re-delivery system in Lavaca County and create a competitive position in a prolific shale play supported by long-term, fee-based agreements with dedicated acreage.