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Williams To Acquire MountainWest Pipelines From Southwest Gas In $1.5 Bln Deal

RTTNews | 985 days ago

Williams To Acquire MountainWest Pipelines From Southwest Gas In $1.5 Bln Deal

(RTTNews) - Williams Cos. (WMB) announced Thursday that it has reached an agreement to acquire MountainWest Pipelines Holding Co. from Southwest Gas Holdings, Inc. (SWX), in a transaction including $1.07 billion of cash and $0.43 billion of assumed debt, for an enterprise value of $1.5 billion.

MountainWest comprises roughly 2,000-miles of interstate natural gas pipeline systems primarily located across Utah, Wyoming and Colorado, totaling approximately 8 Bcf/d of transmission capacity.

MountainWest also holds 56 Bcf of total storage capacity, including the Clay Basin underground storage reservoir, providing valuable service to western markets. The acquisition price represents an approximate 8x estimated 2023 EBITDA multiple.

The bolt-on acquisition expands Williams' midstream infrastructure footprint while increasing business mix of FERC-regulated natural gas transmission and storage.

The transaction is expected to close in 2023, following satisfaction of customary closing conditions, including regulatory approvals.

Tags: SWX WMB

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Southwest Gas Q4 Results Top Estimates

Southwest Gas Q4 Results Top Estimates

Southwest Gas Holdings, Inc. (SWX) reported Wednesday net income for the fourth quarter of $72.87 million or $1.01 per share, compared to a net loss of $280.58 million or $4.18 per share in the prior-year quarter.

RTTNews | 545 days ago

Southwest Gas Q2 Results Top Estimates

Southwest Gas Q2 Results Top Estimates

Southwest Gas Holdings, Inc. (SWX) reported Wednesday net income for the second quarter of $28.88 million or $0.40 per share, compared to a net loss of $6.58 million or $0.10 per share in the prior-year quarter. Excluding items, adjusted earnings per share were $0.47 per share, compared to $0.23 per share last year.

RTTNews | 748 days ago

Southwest Gas Prices Of 3.58 Mln Share Underwritten Public Offering At $60.12/share

Southwest Gas Prices Of 3.58 Mln Share Underwritten Public Offering At $60.12/share

Southwest Gas Holdings, Inc. (SWX) announced Wednesday that it has priced an underwritten public offering of 3.58 million shares of its common stock at a public offering price of $60.12 per share, for net proceeds, after the underwriting discount and before the estimated expenses of the offering payable by the Company, of approximately $207.7 million.

RTTNews | 902 days ago

U.S. Dollar Rises Against Majors

U.S. Dollar Rises Against Majors

The U.S. dollar strengthened against other major currencies in the Asian session on Wednesday.

RTTNews | 31 minutes ago

German GfK Consumer Confidence To Fall Further

German GfK Consumer Confidence To Fall Further

German consumer confidence is set to continue to fall in September as rising fear of job losses weighed on purchase decisions and damped hopes of robust economic recovery, a closely watched survey showed on Wednesday. The forward-looking consumer sentiment index fell to -23.6 in September from -21.7 in the previous month. The reading was forecast to drop moderately to -22.

RTTNews | 40 minutes ago

European Markets Seen Opening Mildly Positive On Wednesday

European Markets Seen Opening Mildly Positive On Wednesday

Equity markets in Europe are expected to open on a positive note on Wednesday amidst waning risk aversion.

RTTNews | 51 minutes ago

Australian Dollar Rises On Strong Monthly CPI Data

Australian Dollar Rises On Strong Monthly CPI Data

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, following the release of Australia's consumer price inflation accelerating more than expected to a one-year high in July.

RTTNews | 1h 32min ago

Australian Dollar Rises Against Majors

Australian Dollar Rises Against Majors

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

RTTNews | 2h 0min ago

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