CS - AltaGas sells US distributed generation assets for $940MM - July 2019AltaGas Ltd. is selling its portfolio of US distributed generation assets to Brookfield
Asset Management affiliate New York-based wind and solar company TerraForm
Power for $940 million (US$720 million). The transaction will bring AltaGas’ total
divestitures to about $1.3 billion of the $1.5-2.0 billion target it has
in mind for 2019 and
further help pay down debt incurred from
the $9 billion purchase of US utility WGL
Holdings in July 2018. Earlier this year, AltaGas sold its stake in...
Jul 31, 2019
CM - Texas pension funds & others commit to PE energy funds - June 2019The $153 billion Teacher Retirement System of Texas invested $500 million in
two limited partnership infrastructure funds. The pension fund committed $300 million
to Brookfield Asset Management’s Infrastructure Fund IV, which invests in energy,
renewables and transportation, and $200 million to DC Front Range Holdings I, which
is managed by DCP Fund I Adviser and Digital Colony Management. Canada’s
Portland Investment Counsel invested a
undisclosed amount in Brookfield’s Fund...
Jun 21, 2019
Energy firms update 2018 capex plans as issues slowCanada’s upstream capital markets trickled to a near halt over the last news cycle as the summer doldrums appears to have overtaken the capital markets. Multiple companies updated 2018 capital expenditure plans in response to changing market conditions, asset sales or debt issues. Paramount Resources will fund part of its 2018 capex plan from proceeds received from assets it sold to Strath Resources (PG 1). Nexen Energy will invest $400 million in Canada’s heavy oil sands (PG 8)....
Jun 28, 2018
Brookfield mulls investment in Trans Mountain projectThree weeks after Canada’s government said it would buy out the Trans Mountain pipeline for $4.5 billion from Kinder Morgan Inc., one of the country’s largest asset management holding companies said it is considering investing in the project. Brookfield Asset Management CEO Bruce Flatt told Bloomberg said the company looks closely at infrastructure projects and would consider it. Ottawa’s financial advisers, Greenhill & Co., have already begun marketing the project to potential...
Jun 28, 2018
CWC Energy Services to raise $26MM through equity offeringCWC Energy Services Corp. closed its follow-on equity offering to raise $26 million to repay debt and fund the acquisition of assets from C&J Production Services Canada. The equity issue granted existing shareholders one right for every three shares held on Nov.15. Each right is convertible to a common share for $0.20 each.The company offered its shareholders up to 130.1 million additional shares, which boosted its outstanding capital to 520.6 million shares. Private equity...
Jan 12, 2018
CWC Energy to raise $26MM through equity offeringCWC Energy Services Corp.closed its follow-on equity offering to raise $26 million to repay debt and fund the acquisition of assets from C&J Production Services Canada.The equity issue granted existing shareholders one right for every three shares held on Nov. 15. Each right is convertible to a common share for $0.20 each.The company offered its shareholders up to 130.1 million additional shares, which boosted its outstanding capital to 520.6 million shares. Private equity firm...
Dec 22, 2017
Brookfield agrees to buy investor Center Coast & affiliateBrookfield Asset Management’s Public Securities Group entered a definitive agreement to buy Center Coast Capital Holdings (CCC), an affiliate of Houston-based Center Coast Capital Advisors, for an undisclosed sum. CCC has more than $4.0 billion of assets under management.CCC invests in MLPs and other energy infrastructure companies through its Center Coast MLP Focus Fund and NYSE-listed Center Coast MLP & Infrastructure Fund, as well as through separately managed accounts and...
Nov 06, 2017
PE group Brookfield looking to acquire Renova controlBrookfield Asset Management Inc. extended a formal bid for control of Brazilian renewables company Renova Energia SA, according to two people familiar with the situation. The bid contemplated the purchase of the 16% stake that Light SA has in Renova at a price equal to BRL 9,0 per Renova unit, the sources said. The same offer was made to Cia Energética de Minas Gerais SA and RR Participações SA, the other two companies that comprise the controlling bloc, the people...
Jul 21, 2017
Kinder Morgan IPO spins off Canadian business in $1.3B saleKinder Morgan, Inc. closed an initial public offering of 102,942,000 common shares of subsidiary Kinder Morgan Canada Ltd. at C$17 ($12.63) each to gross about C$1.75 billion ($1.3 billion). The IPO, one of two options KMI considered for its Canadian pipeline unit’s funding of the C$7.4 billion Trans Mountain expansion, includes a still-outstanding overallotment option for over 15 million shares that could bring total proceeds up to C$2.01 billion if fully exercised. The other option, a...
Jun 01, 2017
Perpetual sells 90% of Warwick gas storage businessCalgary-based Perpetual Energy Inc. is selling its 90% interest in its Warwick gas storage business as part of an asset disposition program aimed at repaying the company's $75 million 6.5% convertible debentures, due June 30. Along with the sale of some non-core oil and gas assets in Alberta, Perpetual will receive $84.3 million for Warwick Gas Storage Inc.The 90% stake in WGSI is being acquired by a partnership sponsored by Brookfield Asset Management, with an option for Perpetual to buy...
Apr 18, 2012
Perpetual raises $84.3 million in asset salesPerpetual Energy signed agreements for the sale of non-core oil and gas assets in southern Alberta as well as 90% of the company's interest in its Warwick gas storage business for total net proceeds of $84.3 million prior to standard closing adjustments. The transactions closed April 25.The Warwick Gas Storage Inc. interest is being acquired by a partnership sponsored by Brookfield Asset Management. Perpetual retains a one-year option to buy back up to a 30% interest in WGSI at the initial...
Apr 09, 2012