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...TC Energy, the Canadian pipeline operator behind the aborted plan to build the controversial Keystone XL crude pipeline, said in July it was spinning off its oil transportation business to concentrate on...
...TC Energy, the Canadian company behind the abandoned plan to build the controversial Keystone XL crude oil pipeline, is in the process of spinning off its oil business to focus on handling natural gas, a...
...But that integration has not been without its problems, with the head of Axa XL being replaced in 2020 at the same time that it downgraded an earnings target for the unit....
...If Biden had not vetoed the Keystone XL pipeline from Canada, Alberta’s premier Jason Kenney noted in one of the week’s many “we told you so” moments, it could have been pumping crude to the US later this...
...Despite imposing an aggressive carbon tax regime, the federal government lobbied for the controversial Keystone XL pipeline from Alberta to Texas — which was cancelled by US President Joe Biden earlier this...
...TC Energy is best known as developer of the now-cancelled Keystone XL crude oil pipeline, a target of environmentalists. The business opportunity is potentially immense....
...Take electric vehicle start-up XL Fleet as an example. Shares in the company shot up almost 70 per cent to a peak of $35 after it went public via a Spac in December....
...French insurer Axa bought XL Group for $15bn in 2018, in part to give itself a bigger position in the reinsurance market. Goldman Sachs advised Exor while Sullivan & Cromwell provided legal advice....
...In 2018 Axa spent $15bn buying XL Group, which operated in some of the same markets as Partner Re. Axa’s shareholders initially had some reservations about the deal....
...Last year AIG bought Validus, Axa bought XL and Aspen was taken over by private equity group Apollo after a long sale process....
...Keystone XL would have a capacity of 830,000 b/d, but will have to overcome legal challenges in federal courts and in Nebraska....
...WellCare Health Plans is set to nab the spot in the S&P 500 vacated as Bermuda-based XL Group is absorbed into French insurer Axa....
...AIG’s $5.6bn purchase of Validus a year ago, which controlled ILS manager AlphaCat, was followed last March by Axa’s $15bn acquisition of XL Group....
...A version of this article was first published by the Nikkei Asian Review on March 13, 2019. ©2019 Nikkei Inc. All rights reserved....
...Already this year AIG has bought Validus for $5.6bn and France’s Axa has bought Bermuda-based XL Group for $15bn....
...However, those transactions — Hartford/Navigators, Axa/XL Group, AIG/Validus — involved strategic buyers, not private equity firms. Those deals were also more expensive....
...Rounding out the top five gainers on the S&P 500 for the first half of 2018 are social media platform Twitter; up 82 per cent; travel and restaurant website TripAdvisor, up 63 per cent; insurer XL Group,...
...In March, Axa bought Bermuda’s XL Group in a €12.4bn deal, surprising some investors who had expected CEO Thomas Buberl to spend the money from the planned listing of its US business, Axa Equitable, to fund...
...The proceeds of Thursday’s IPO all go to the parent Axa as it looks to fund its $15bn buyout of property and casualty insurer XL Group. Axa has other priorities than its US businesses....
...Keystone XL, a pipeline planned to connect Canada’s oil sands to US refineries, languished as it became a potent symbol of carbon emissions....
...There are two other pipeline developments for exports from Alberta that are still making progress: the expansion of Enbridge’s Line 3 to Wisconsin, and Transcanada’s long-disputed Keystone XL to Nebraska...
...A clutch of insurers, including Aviva, Axa, Allianz, XL Catlin and MetLife, have their own funds, although there is some scepticism over whether these minority investments really give the insurers much benefit...
...A version of this article was first published by the Nikkei Asian Review on August 29 2018. ©2018 Nikkei Inc. All rights reserved....
...Large scale M&A in insurance has taken a breather since the merger mania of 2015, when Ace struck a deal with Chubb, XL bought Catlin and brokers Willis and Towers Watson came together....
...This year’s model comes in two versions: the Pixel 2 XL, with a six-inch screen and curved edges, costing $849, and the Pixel 2, a chunky five-inch model that costs $649....
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