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...The tender offer was also designed to enable investors to cash out....
...Energy Transfer’s growth has already been boosted by acquisitions: it announced the purchase of Permian Basin operator Lotus Midstream for $1.5bn in March, and in 2021 it snapped up Enable Midstream Partners...
...Aaron Milford, chief executive of Magellan Midstream Partners, said that the “opportunity to invest and grow” as a company focused on crude oil and refined products, such as petrol and jet fuel, had become...
...US pipeline giant Oneok is set to buy Magellan Midstream Partners for $18.8bn, creating one of the biggest oil and gas infrastructure companies in North America as consolidation in the hydrocarbon business...
...The latest deal was the $18.8bn sale of pipeline company Magellan Midstream Partners to rival Oneok this week....
...The so-called midstream energy sector has been engaged in a flurry of transactions as efforts to add pipeline capacity runs into opposition....
...Now scarcity has thrown a spotlight on their value, intensified by Oneok’s recommended offer for Magellan Midstream Partners at an enterprise value of $18.8bn....
...For pipeline builders — the so-called midstream part of the industry — the peak shale era brought its own wealth of opportunities....
...It had added that its proposal would involve less dilution of partners’ existing stakes because a private transaction would enable it to borrow more heavily against the value of the consulting business....
...The likelihood of the LPs still wanting their money to be ploughed into it is even smaller. It’s a win-win....
...Our goal is to be kind of the midstream, downstream oil and gas company, in a sense....
...The remaining 48 per cent of the company will remain in the hands of current investors including the Farinetti family and Italian private equity firm Tamburi Investment Partners....
...Happily for GPs, this also delays when client, or limited partner (LP), money enters the fund, artificially boosting returns....
...Lake Nona Fund / LN Sports & Health Tech Fund I, LP . . . Exponent Founders Capital I, LP . . . SH Fund, LP . . . Curated [chef recommends] . . . Race Capital II, LP . . ....
...It’s been difficult to get to the backlog of inquiries,” said Carter Malloy, the founder of AcreTrader, a firm that enables retail investors to buy stakes in farms....
...Home Partners then buys the property and rents it out on a five-year deal with fixed annual rent bumps and an option to purchase....
...Ares struck a deal last March to buy Landmark Partners, which finances continuation fund deals among other specialist transactions, and CVC Capital Partners agreed to buy Glendower Capital in September....
...Both options enable full virtual and on-demand access to the programme. KKR enters a new era Ross Johnson believed the rules of Wall Street were simple....
...Tate & Lyle has agreed to sell a controlling stake in its commercial sweeteners division in the Americas to KPS Capital Partners in a $1.3bn deal as the food group pivots towards healthier products....
...For example, Magellan Midstream, an energy MLP, last year paid out only about 71 per cent of its cash flows as dividends....
...Deals of this kind can enable buyout groups to expand into new areas, fund technology investments or make acquisitions, and can also enable founding partners to monetise their stakes and retire....
...“These announcements represent a key milestone in executing the company’s previously communicated asset-light strategy, one that enables a best-in-class balance sheet and strong free cash flow generation...
...“Optimising capacity will enable further development in the Bakken which means more jobs and economic benefits for local communities,” it said....
...ICE’s contract is delivered at Houston terminals owned by Magellan Midstream Partners, whose specifications allow oil with a wider gravity band of 36-44 degrees and a sulphur cap of 0.45 per cent....
...Oxford’s recent largest individual donations were both worth £75m in cash terms — from Michael Moritz, partner at Sequoia Capital, the venture capital firm, and his wife Harriet Heyman in 2012, and from...
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