Entergy to sell gas distribution business to Bernhard Capital Partners
NEW ORLEANS — Entergy plans to sell its gas distribution business to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for approximately $484 million in cash, subject to certain purchase price adjustments. Entergy Louisiana’s gas business serves approximately 95,000 homes and businesses in the Baton Rouge area, and Entergy New Orleans’ gas […]
DXP Enterprises acquires Alliance Pump & Mechanical Service
HOUSTON — DXP Enterprises has completed the acquisition of Alliance Pump & Mechanical Service (Alliance), a municipal and industrial pump sales, service and repair company. DXP funded the acquisition with cash on the balance sheet. Headquartered in Independence, Missouri, Alliance is focused on serving customers in the chemical, water/wastewater, municipal and general industrial markets with […]
Kinder Morgan to purchase NextEra Energy Partner’s Texas pipelines
HOUSTON — Kinder Morgan Inc. (KMI) has agreed to acquire NextEra Energy Partner’s South Texas assets, STX Midstream, for $1.82 billion. The STX Midstream pipeline system includes a set of integrated, large diameter high pressure natural gas pipelines that connect the Eagle Ford basin to key growing Mexico and Gulf Coast demand markets. STX Midstream […]
ExxonMobil completes acquisition of Denbury
SPRING, Texas — ExxonMobil Corp. has closed its acquisition of Denbury in an allstock transaction valued at $4.9 billion, or $89.45 per share, based on ExxonMobil’s closing price on July 12, 2023. Under the terms of the agreement, Denbury shareholders would receive 0.84 shares of ExxonMobil for each Denbury share. “This transaction is a major […]
Chevron agrees to buy Hess in $60B deal
SAN RAMON, Calif. — Chevron Corp. has entered into a definitive agreement with Hess Corp. to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron […]
INEOS completes acquisition of Eastman Texas City site
LONDON — INEOS has completed the acquisition of the Eastman Texas City, Texas, site, the 600k mt capacity acetic acid plant and all associated third party activities, from Eastman Chemical Company. Eastman and INEOS have also entered into an MOU to explore options for a longterm supply agreement for vinyl acetate monomer. “We are delighted […]
