Oil & Gas Equipment & Services M&A » By The Online Investor Staff, updated Wed., Sep. 23, 5:14 AM
Recent mergers and acquisitions in the Oil & Gas Equipment & Services M&A category.
Slide #63. Spectra Energy Partners — Spectra Energy Corp's U.S. Transmission
| Acquirer: |
Spectra Energy Partners (SE) |
| Acquiree: |
Spectra Energy Corp's U.S. Transmission (SEP) |
| Details: |
Spectra Energy Partners, LP (NYSE:SEP) and Spectra Energy Corp (NYSE:SE) today announced that both company boards have executed an agreement to drop down Spectra Energy's remaining U.S. transmission, storage, and liquids assets to Spectra Energy Partners. In consideration, Spectra Energy will receive 172,000,000 in newly issued limited partner units, 3,510,204 in newly issued general partner units, and $2.2 billion in cash. In addition, Spectra Energy Partners will assume about $2.5 billion of acquired asset debt. The 2014 EBITDA multiple of this transaction is approximately 9.3 times based on the volume weighted average unit price ($36.12) for the ten day period ending on June 11, the date of the transaction announcement. The transaction is expected to close by year-end. |
Sea is a holding company. Through its subsidiaries, Co. is engaged as an internet company. Co. has developed integrated platform consisting of digital entertainment, e-commerce, and digital financial services, each localized to meet the characteristics of Co.'s markets. Co. operates three key businesses: Garena, which provides access to mobile and PC online games that Co. develops, curates and localizes for each market; Shopee, which provides users with a shopping environment that is supported by integrated payment, logistics, fulfillment, and other value-added services; and AirPay, which provides digital financial services and is a digital payment provider in Co.'s region.
Open the SE Page at The Online Investor »
Sea is a holding company. Through its subsidiaries, Co. is engaged as an internet company. Co. has developed integrated platform consisting of digital entertainment, e-commerce, and digital financial services, each localized to meet the characteristics of Co.'s markets. Co. operates three key businesses: Garena, which provides access to mobile and PC online games that Co. develops, curates and localizes for each market; Shopee, which provides users with a shopping environment that is supported by integrated payment, logistics, fulfillment, and other value-added services; and AirPay, which provides digital financial services and is a digital payment provider in Co.'s region.
Open the SEP Page at The Online Investor »
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