Oil & Gas Equipment & Services M&A » By The Online Investor Staff, updated Mon., Jul. 4, 10:58 AM
Recent mergers and acquisitions in the Oil & Gas Equipment & Services M&A category.
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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 principally engaged in the digital entertainment, e-commerce and digital financial service businesses in the region. Co. operates three primary businesses: Garena, Shopee, and SeaMoney. Garena provides users with access to mobile and PC online games that Co. develops, curates and localizes for each market. Shopee provides users with a shopping environment that is supported by payment, logistics, fulfillment, and other services. Co.'s SeaMoney provides mobile wallet services, payment processing, credit related digital financial offerings, and other financial products.
Open the SE Page at The Online Investor »
Sea is a holding company. Through its subsidiaries, Co. is principally engaged in the digital entertainment, e-commerce and digital financial service businesses in the region. Co. operates three primary businesses: Garena, Shopee, and SeaMoney. Garena provides users with access to mobile and PC online games that Co. develops, curates and localizes for each market. Shopee provides users with a shopping environment that is supported by payment, logistics, fulfillment, and other services. Co.'s SeaMoney provides mobile wallet services, payment processing, credit related digital financial offerings, and other financial products.
Open the SEP Page at The Online Investor »
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