Natural Gas Utilities

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Southwest Gas Corp to Bolster Construction Services Business

Tuesday, 2 Sep 2014 05:00pm EDT

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 acquires Alabama Gas Corporation

Tuesday, 2 Sep 2014 09:07am EDT

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 and Susser Holdings announces successful completion of merger

Friday, 29 Aug 2014 09:20am EDT

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.


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