Utilities - Natural Gas
Smart Metering Systems plc:Announces acquisition of Utility Partnership Limited.Utility Partnership Limited is a manager of electricity meters in the UKand provider of electricity connections, design, meter installation, data management and energy management services.Consideration for the acquisition is 14 mln pounds.Consideration to be settled through a payment of about 9.7 mln pounds in cash, funded through a new corporate debt facility provided by the company's existing club of lenders.Says the balance of about 4.3 mln pounds being satisfied by the issue of 1,246,277 ordinary shares of 1 pence each in the company.
Exterran Partners LP completes acquisition of assets from Chesapeake Energy Corporation's MidCon Compression
Exterran Partners LP:Completes acquisition of compression assets from MidCon Compression, L.L.C., a subsidiary of Chesapeake Energy Corporation for about $360 mln.Asset acquisition was funded using the proceeds of Exterran Partners' March 2014 equity offering and a portion of its March 2014 debt offering.
Energen Corp:Signs definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corporation (Alagasco), to Laclede Group, Inc.Value of the transaction is $1.6 bln.Expected to close in 2014.J.P. Morgan Chase & Co. is acting as financial advisor to Energen, and Bradley Arant Boult Cummings LLP is acting as legal counsel.
Sino Gas International Holdings Inc enters agreement and plan of merger with Prosperity Gas Holdings Limited
Sino Gas International Holdings Inc:Announced that it has entered into an agreement and Plan of Merger with Prosperity Gas Holdings Limited, a Cayman Islands exempted company (Parent) and Merger Sub Gas Holdings Inc., a wholly owned subsidiary of Parent.Pursuant to which Parent will acquire the company for $1.30 per share.The Merger Consideration implies an equity value of the company of about $74.9 million, on a fully diluted basis.Parent intends to finance the Merger through a combination of an equity commitment of about $28.96 million by MSPEA Gas Holdings Limited.An equity commitment of $37.45 million by Zhongyu Gas Holdings Limited.And rollover equity contributed by Mr. Liu through his investment vehicle.Merger is expected to close in the second quarter of 2014.
Vectren Corp's Energy Systems Group acquires Chevron Energy Solutions and receives $45 mln Waste-to-Energy Contract
Energy Systems Group:Energy Systems Group subsidiary of Vectren Corporation.Acquires federal sector energy services unit of Chevron Energy Solutions (CES), which is owned by Chevron U.S.A., Inc.Awarded $45 mln contract with Frederick-Winchester Service Authority (FWSA).For design and construction of energy efficiency and infrastructure improvements at the Opequon Water Reclamation Facility in Winchester, Virginia.
Regency Energy Partners LP and and PVR Partners, L.P:Closes Regency's previously announced acquisition of PVR.Regency acquires all of PVR's outstanding units for a total purchase price of about $5.6 bln.Including about $1.8 bln of assumed debt.PVR unitholders received 1.020 Regency common units and a one-time cash payment of $0.262 per unit.
Gujarat Gas Co Ltd:Says it has executed an amendment agreement with GSPC Ltd. for purchase of additional 0.2 mmscmd of RLNG on March 21, for the period April 01, 2015 up to July 01, 2025.With this execution GGCL secures 0.85 mmscmd of long term RLNG for serving demand in its operating area.
Gazprom gazoraspredeleniye Sever OAO:Approves reorganization of the company through merger with Sibirskiye gazovye seti OAO and share capital increase-AK&M.Merger will be carried out through conversion of 1,250 shares of Sibirskiye gazovye seti OAO of nominal value of 80 Russian rubles each into 402,036 shares of the company (401,382 additional shares and 654 own shares) of nominal value of 80 rubles each.The conversion ratio is 0.00310917430279875.The company's share capital is to be increased by 32,110,560 rubles through the issue of 401,382 shares of a nominal value of 80 rubles.
Exterran Partners LP:Entered into an agreement to acquire natural gas compression assets from MidCon Compression, L.L.C., a subsidiary of Chesapeake Energy Corp for about $360 mln.Says the assets to be acquired include 334 compression units, with a total horsepower of about 440,000, which currently are being used to provide compression services to Access MLP Operating, L.L.C., subsidiary of Access Midstream Partners LP.Says in connection with the acquisition, Exterran Partners and Access have entered into a seven-year contract operations services agreement to be effective as of the closing.Says the transaction is subject to closing conditions and is expected to close in the second quarter 2014.
Ascopiave SpA:Says it completed, on Feb. 10, with Veritas SpA the operation for the assignment from Veritas to Ascopiave of the 49 pct stake held by the former in Veritas Energia Srl.Says, Ascopiave, already the owner of 51 pct, holds to date the entire 100 pct share capital of Veritas Energia Srl.Says the equivalent amount disbursed for the acquisition, to the tune of 4 million euros, corresponds to an enterprise value of Veritas Energia worth 16.4 million euros.Says it was assisted in the transaction by BMA - Barel Malvestio & Associati law firm, by the professionals Riccardo Manfrini and Vittorio Titotto.