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BP explores $1bn US pipelines stake sale.
Iron ore tycoon muscles in on Albemarle's Lithium takeover.
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Waterous Energy Fund -backed Strathcona Resources Ltd. , a private oil and gas producer, completed the acquisition of Pipestone Energy Corp. , an oil exploration company, for $8.7bn.
"The acquisition of Pipestone by Strathcona reflects the successful culmination of growing and delineating our asset base over the past four years. This all-share transaction delivers shareholders ongoing exposure to one of the largest, well diversified, upstream producers in North America, which has the capacity to grow its production meaningfully over the next decade," Dustin Hoffman, Pipestone COO and interim CEO.
Pipestone Energy was advised by BMO Capital Markets , Raymond James , and McCarthy Tétrault (led by Alyson Goldman and Michael Bennett ). Strathcona Resources was advised by ATB Capital Markets , CIBC World Markets, 瑞穗实业银行 , RBC Capital Markets , Scotiabank , TD Securities , and Blake, Cassels & Graydon LLP . WEF was advised by Stikeman Elliott LLP .
Civitas Resources , an independent, domestic oil and gas producer, agreed to acquire the Midland Basin assets from Vitol -backed Vencer Energy, LLC , an oil and gas company that invests in and operates large producing assets, for $2.1bn.
"This was a unique opportunity to capture high-quality oil assets at a very attractive price. In recent months, we have created a quality, scaled position in the heart of the Permian Basin. We continue to advance our strategic pillars by adding premium inventory, increasing Free Cash Flow, and delivering the industry's best cash returns to shareholders. Upon closing, our portfolio will be balanced between the Permian and DJ basins, which reduces operational risk and makes us a stronger and more sustainable enterprise," Chris Doyle, Civitas President & CEO.
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Civitas Resources is advised by 美国银行 , J.P. 摩根 , RBC Capital Markets , Kirkland & Ellis , and DrivePath Advisors . Vencer Energy is advised by Latham & Watkins .
Hitachi ’s proposed €1.7bn ($1.8bn) purchase of 泰雷兹 rail-signal business won regulatory approval from the UK’s competition watchdog after the Japanese firm offered to divest parts of its European unit, Bloomberg reported.
Hitachi’s offer to sell its existing mainline signaling business in the UK, France, and Germany, was sufficient in addressing previous concerns over the deal, the Competition and Markets Authority.
Hitachi is advised by 德意志银行 , Perella Weinberg , Clifford Chance and Machado Meyer Advogados (led by Maria Eugênia Novis ). Thales is advised by Lazard , August Debouzy , BDGS Associés , 贝克?麦坚时 and Levy & Salom?o Advogados .
BP explores $1bn US pipelines stake sale.
bp is exploring the sale of a 49% stake in its US oil and gas pipeline network in the Gulf of Mexico, hoping to raise as much as $1bn, Reuters reported.
The potential divestment would help BP meet its targets to reduce debt and maintain its dividend. While it boosted its shareholder payout by 10% in second-quarter earnings in August, BP's net debt stood at $23.7bn. BP has placed its stakes in US Gulf of Mexico pipelines in a new company in which it will hold a 51% position and sell the rest.?
Iron ore tycoon muscles in on Albemarle's Lithium takeover.?
Australia's richest woman has added to her stake in lithium miner Liontown Resources Limited for the fourth time in under a month, edging closer to a position that could block an AUD6.6bn ($4.2bn) takeover by the world's biggest producer of the metal, Bloomberg reported.
Gina Rinehart's Hancock Prospecting now owns 14.67% of Liontown, the target of the Albemarle bid, according to an ASX filing late October 3 — closing in on the 15% level that is generally considered to be an effective blocking minority stake. Her holding stood at just under 8% on September 12.
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