Hints and tips:
...Since 2012 Icahn Enterprises has collected $3.2bn in dividends from CVR, a Financial Times analysis shows....
...CVR Energy has paid $3.2bn of dividends into Icahn’s empire since he took control of the outfit through a 2012 boardroom fight, though the battle is best known on Wall Street for the ensuing litigation....
...The list of borrowers shifting from private to public debt markets includes Veritas-backed energy consultancy Wood Mackenzie and UK insurance broker Ardonagh, according to people briefed on the matter....
...News round-up Exclusive Singapore wine club closes as ultra-rich shun flash for discretion (FT) Diamondback Energy agrees to buy Endeavor in $26bn US oil deal (FT) PwC delays graduate scheme promotions...
...“In our experience, Magellan was a company with excellent assets and historically excellent management,” said EIP, which had a 3 per cent stake in the company. “We’re sorry things had to change.”...
...The $7.1bn value of the deal includes $3.3bn in debt to be assumed by Energy Transfer....
...Shares in Eni, which is 30 per cent owned by the Italian government, were down 1.55 per cent on Friday morning, while Vår Energi stock was up 3 per cent....
...Energy Income Partners, the fourth-biggest unit holder in the group with a 3 per cent stake, has blasted the combination as a recipe for “diworsification”, arguing the deal undervalues Magellan’s “industry-leading...
...“Globally everywhere has risks right now, whether it’s inflation, politics or an energy crisis,” said Patrick Zhong of M31 Capital....
...Plus, upstream manufacturers have their own IRA subsidies to monetise. 3....
...Those that control assets that provide services we simply can’t do without — such as energy, shelter and water — are particularly powerful....
...That continued into this year with CVC netting more than three times its money on the $4.9bn sale of oil platform Neptune Energy last month....
...Job moves Shearman & Sterling’s chief commercial officer Robert Brown has joined Sheppard Mullin as chief operating officer ahead of its $3.4bn merger with UK firm Allen & Overy....
...Last month, investors sought to redeem $3.8bn from Breit, a 30 per cent decline from January....
...That would be worth about $3.2bn taxed and capitalised, covering the premium that Oneok is paying. There is little obvious overlap from which to cut costs....
...KKR last month committed to buy $550mn of solar energy consumer loans from SunPower....
...As our friends at Energy Source point out: “Chevron’s largest deal last year was a $3bn acquisition of biofuel producer Renewable Energy Group....
...BP, like its rival Shell, has pledged to cut the carbon intensity of the products it sells — also known as its scope 3 emissions — to net zero by 2050, ten years later than the target set by Varo....
...But the squeeze, which saw home credit lender Provident Financial leave the market and others like Amigo stop lending, wasn’t followed by any proper appraisal of what came next....
...Lane is a director of NextEra Energy and TJX Companies and Vena has worked at Union Pacific as a senior adviser. A third board member is also set to be added in conjunction with DE Shaw....
...unit in $3.1bn deal (Wall Street Journal)...
...Provident shuttered its consumer credit unit last year....
...Commodity traders and energy majors with large trading arms have found themselves on the hook for huge margin calls — demands for extra cash from counterparties to cover lossmaking hedging positions....
...The firm acquired energy infrastructure company Spark Infrastructure for $3.7bn in December as part of a consortium that included Canadian pension funds....
...Consider Blackstone Group, which set aside $8.3bn in total compensation and benefits for its about 3,800 employees, or about $2.2mn on average....
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