Construction M&A » By The Online Investor Staff, updated Mon., Nov. 28, 9:44 AM
Recent mergers and acquisitions in the Construction M&A category.
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Slide #40. Certain affiliated investment funds managed by Alinda Capital Partners — Quanta Services Equity Ownership in Howard Energy
Acquirer:
Certain affiliated investment funds managed by Alinda Capital Partners
Acquiree:
Quanta Services Equity Ownership in Howard Energy (NYSE:PWR)
Details:
Quanta Services, Inc. (NYSE: PWR) today announced that its wholly owned subsidiary, Quanta Capital Solutions, Inc. (Quanta Capital), has successfully closed the sale of all of its equity ownership interest in Howard Midstream Energy Partners, LLC (Howard Energy) for approximately $221 million in cash, which will result in a pre-tax gain to Quanta of approximately $113 million in the fourth quarter of 2013, or approximately $0.32 per diluted share. The after-tax net proceeds from the sale are expected to be approximately $175 million. Certain affiliated investment funds managed by Alinda Capital Partners acquired the interest previously held by Quanta Capital.
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Avg. Broker Rec.
 
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Strong Buy (3.60 out of 4) 59th percentile
(ranked higher than approx. 59% of all stocks covered)
Analysts' Target Price: PWR Stock Forecast Based on Zacks ABR data; powered by Xignite |
