Natural gas/midstream M&A
Enbridge-sponsored companies create conflicts committees to weigh buyout offer
Four Enbridge Inc. affiliates created independent conflicts committees to weigh a buyout offer from the sponsor company, which said May 17 that it is seeking to roll up its U.S. energy pipeline partnerships amid prolonged valuation declines.
Gas pipeline giant Williams to roll up its MLP in $10.5B deal
Williams Cos. Inc. intends to roll up its master limited partnership by acquiring the 256 million Williams Partners LP shares it does not already own for $10.5 billion, the natural gas pipeline giant announced May 17.
Cheniere offers to buy out its MLP's holding company
LNG exporter Cheniere Energy Inc. offered to buy all of the outstanding shares of Cheniere Energy Partners LP Holdings LLC that it does not already own, a move that would consolidate the parent company's control over its master limited partnership that operates the Sabine Pass Liquefaction LLC LNG terminal in Louisiana.
Reports: Conoco, BP in talks for UK, Alaska asset exchange
London-based BP PLC and ConocoPhillips are reportedly engaged in talks for an asset swap deal under which the London-based oil major would take the U.S. producer's Clair Ridge project in the U.K. in exchange for some of BP's Alaskan assets.
Valero acquires 3rd-largest Peruvian petroleum products importer
U.S.-based Valero Energy Corp. announced May 14 that, through subsidiaries, it acquired Pure Biofuels del Perú SAC from Pegasus Capital Advisors LP for an undisclosed amount in order to serve a growing Latin American petroleum market it sees as underserved by local refining capacity.
KKR, Oaktree acquire Proserv in $50M restructuring deal; Proserv CEO steps down
Energy services company Proserv Group Inc. said May 14 that it was acquired by KKR & Co. LP and Oaktree Capital Management LP in a debt-for-equity exchange that includes an investment of $50 million.