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Aug. 3 (OE) Saipem and Subsea7 have cleared a key U.S. regulatory hurdle for their planned merger after the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 expired, allowing the transaction to close in the United States once all remaining conditions are met. The companies said all applicable waiting periods under the... Continue Reading →
July 22 (OE) Italian energy contractor Saipem's merger with Norwegian peer Subsea 7 may lead to price hikes and less innovation, EU antitrust regulators warned on Wednesday as they opened a full-scale investigation. The deal announced in February last year would create a leading global player in offshore energy services, from drilling and engineering to laying... Continue Reading →
July 10 (Reuters) - Italian energy contractor Saipem's merger with Norwegian peer Subsea 7 is set to face a full-scale EU antitrust investigation because of competition concerns about the deal, people with direct knowledge of the matter said. The companies announced the deal in February last year to create a leading global player in offshore energy services,... Continue Reading →
July 6 (Reuters) - Brazilian power firm Equatorial and Spain's Iberdrola are in talks with Enel to buy assets of the Italian firm in Brazil, Brazilian newspaper Valor Economico reported on Monday, citing sources. Enel is in a spat over its power concession in Sao Paulo, with authorities considering revoking the approval due to a series of outages in recent... Continue Reading →
June 19 (OE) The shareholder in offshore drilling contractor Vantage Drilling have approved its proposed merger with Norway-based Eldorado Drilling, advancing a transaction that values Vantage's equity at approximately $258 million. The approval was secured at a special general meeting held in Bermuda on June 18, where shareholders voted in favor of all resolutions related... Continue Reading →
June 3 (Reuters) - Private equity management firm IG4 Capital and Brazilian state-run oil company Petrobras on Wednesday became the co-controllers of petrochemical firm Braskem, completing a deal signed in April, IG4 said in a statement. Under the new ownership structure, IG4, through investment fund Shine, will hold 50.1% of Braskem's voting shares, it said. Petrobras will... Continue Reading →
June 1 (OE) Vantage Drilling has entered into a merger agreement under which Norway-based Eldorado Drilling will acquire the offshore drilling contractor in a transaction valuing the company's equity at approximately $257.6 million. Under the agreement, Vantage shareholders will receive $19.00 per share in cash. The transaction has been unanimously approved by Vantage's board of... Continue Reading →
May 20 (OE) QatarEnergy has acquired participating interests in three exploration blocks offshore Uruguay from BG International Limited, a subsidiary of Shell. Under the agreements, QatarEnergy has acquired an 18% interest in block ‘OFF-4’, while Shell held 32%, and APA Corporation (the operator) retained the remaining 50%. QatarEnergy has also acquired a 30% interest in... Continue Reading →
May 18 (Reuters) - U.S. power companies NextEra Energy and Dominion Energy announced a plan to merge on Monday in a $66.8 billion deal that will form one of the world's largest electric utilities during an expansion of energy-intensive data centers to support artificial intelligence. The all-stock transaction, which is pending regulatory approvals, is one... Continue Reading →
May 18 (OE) JHI Associates had obtained a final court order from the Ontario Superior Court of Justice approving Eco (Atlantic) Oil & Gas' proposed acquisition of the company. The company said the court approval follows unanimous shareholder backing for the transaction at a May 12 meeting, where 100% of votes cast supported the arrangement.... Continue Reading →
Brazil Energy Insight 