Natural Gas Utilities
Targa Resources Corp:Announces agreement to acquire Targa Resources Partners LP.Says trp unitholders to receive 0.62 shares of trc per unit in all equity transaction.Says deal immediately accretive to trc shareholders.All of outstanding common units of trp will be owned by trc and will no longer be publicly traded.Following deal, trc expects dividend growth of 15% for 2016 and greater than 10% compound annual dividend growth through 2018.Says no additional financing is required for the transaction.Co will acquire all units of the partnership not already owned in an all stock-for-unit transaction.
Chongqing Gas Group Corp Ltd:Says Chongqing-based energy service subsidiary to acquire centralized cooling heating project of civil engineering from Chongqing-based property company.Transaction amount 165.8681 mln yuan.
Repsol sells part of its piped gas business for 652 mln euros to Gas Natural Distribucion and Redexis Gas
Repsol SA:Repsol has agreed with Gas Natural Distribucion and Redexis Gas sale of part of its piped gas business.Various operations amount to a total of 651.5 million euros, generating an estimated after-tax capital gain of 367 million euros A.Agreements, which will be completed in early 2016, are subject to regulatory approvals.Following these transactions, Repsol maintains portfolio of piped gas assets with capacity to supply 141,535 regional customers that it will continue to operate normally.
EnLink Midstream Partners LP:Signs definitive agreement to acquire Delaware basin assets.Deal for about $143 million.Including deal, partnership expects to deploy growth capital of $400 - 500 million to expand position in Delaware basin.Says Delaware basin system is currently in start-up operations.Unit of partnership signed agreement to buy gathering and processing assets in Delaware basin from Matador Resources unit.Expansion will include additional processing capacity, including installation of 120 mmcf/d natural gas processing plant.
Lietuvos Dujos AB:Reorganization terms of Lesto and Lietuvos Dujos says companies are reorganised by way of merger.Meetings of boards of AB Lesto and Lietuvos Dujos held on August 31 discussed and approved draft reorganization terms of AB Lesto.After merger establishment of a new company with name of AB Energijos Skirstymo Operatorius.Shares of Lesto And Lietuvos Dujos will be exchanged for shares of ESO, company to be active after reorganization.Intended commencement of ESO's activities after merger to be January 1, 2016.
Southern Co:To acquire AGL Resources in $12 billion transaction, creating leading U.S. electric and gas utility.Says AGL Resources shareholders to receive $66 per share.Says transaction expected to be accretive to Southern Company earnings per share in first year.Transaction has an enterprise value of about $12 billion, including a total equity value of about $8 billion.For Southern Co transaction is anticipated to be accretive to EPS in the first full year following the close of the transaction.Says companies expect to complete the transaction in the second half of 2016.Says transaction will accelerate expected long-term EPS growth to 4-5 percent.Committed financing from Citigroup global markets inc. and plans to put long-term financing in place prior to the closing of deal.Says after closing, AGL Resources will continue to maintain its own management team and board of directors.Says AGL Resources will continue to maintain its own corporate headquarters, which for AGL Resources is in Atlanta.
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.