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TC Energy prepares for a $3.7bn asset sale in 2024.?You can access today’s complete newsletter?here.
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EQT Group said the US antitrust regulator asked for additional information and documentary materials in connection with a $5.2bn acquisition announced in September, a move that raises questions on the largest US natural gas producer's ability to keep its acquisition spree,?Bloomberg?reported.
Pittsburgh-based EQT Group plans to buy the upstream assets of Tug Hill. The cash-and-stock transaction also includes XcL Midstream, LLC , which owns about 95 mi (153 km) of gas pipelines.
EQT Group (led by Christian Sinding ) is advised by RBC Capital Markets (led by Joel A. Sandler ), Kirkland & Ellis (led by David Feirstein , Cyril Jones , and Jennifer Gasser) and FGS Global (led by George Manolis , Jim Barron and Kelly Kimberly ). Quantum Capital Group (led by Wil VanLoh ) is advised by Tudor, Pickering, Holt & Co. Securities, Inc. is advised by J.P. 摩根 , 富国银行 , Akin Gump Strauss Hauer & Feld LLP and Vinson & Elkins (led by John Connally and Robert Hughes ). J.P. 摩根 is advised by Alston & Bird (led by Stuart Rogers ).
WestRock Company , a corrugated packaging company, completed the acquisition of the remaining 67.7% stake in GRUPO GONDI , a manufacturer of recycled paper and cardboard packaging, for $970m.?
"We are pleased to welcome the Grupo Gondi team to WestRock. "The addition of Grupo Gondi's operations in Mexico enables us to better serve the Latin American market with our broad portfolio of paper and packaging solutions. The capability and expertise that this team brings to WestRock will help us continue to provide complete packaging solutions for our customers." David Sewell , WestRock Company CEO.
Grupo Gondi (led by Eduardo Posada) was advised by 瑞信 .
Fortune Brands Innovations , an industry-leading home and security products company, agreed to acquire Emtek and Smart Residential business in the US and Canada of ASSA ABLOY Group , a Swedish conglomerate, for $700m.
"This Acquisition is perfectly aligned to our strategy as a brand, innovation and channel leader. Yale and August will bring two great brands and significant engineering expertise into our already powerful security portfolio. Emtek and Schaub allow us to enter a branded, growing and highly profitable category in a leadership position, where we can accelerate innovation and leverage our channel and consumer insights to create significant value over time. This transaction is consistent with Fortune Brands' disciplined approach to value-creating acquisitions," Nicholas Fink , Fortune Brands CEO.
SQN Investors , an equity investment adviser, agreed to acquire the remaining 86.4% stake in Bigtincan , a sales performance software company, for $442m.
"SQN has indicated that it aims to fund the Indicative Proposal by a combination of equity by SQN and its affiliates, and possibly debt financing, although it does not currently have binding commitments in that regard. SQN have not been provided due diligence access at this time," Bigtincan.
TC Energy prepares for a $3.7bn asset sale in 2024.?
TC Energy , an energy company, prepares to unload $3.7bn in assets next year, investors and analysts say the North American pipeline operator has plenty of options without touching its core gas business.
TC is widely known for its Keystone oil pipeline, a critical artery for moving Canadian oil to U.S. refiners that dominated headlines over the past decade for an expansion that ultimately failed. Keystone could fetch TC $9.5bn.
"Our highest priority in 2023 is to accelerate our deleveraging because we do see over the ensuing years some opportunities for us potentially to be opportunistic in M&A," Francois Poirier, TC Energy CEO.
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