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

RTTNews | 1067 dias atrás
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.

Etiquetas: SWX WMB
read more
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 | 627 dias atrás
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 | 830 dias atrás
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 | 984 dias atrás
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Monday, adding to the losses in the previous four sessions, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,600.00 level, with weakness in financial stocks and mixed performance across most other sectors.
RTTNews | 1 h 14 min atrás
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the mixed cues from Wall Street on Friday, amid renewed uncertainty about the outlook for interest rates, the lofty valuation in the tech sector and the U.S. economic outlook. Asian markets closed mostly lower on Friday.
RTTNews | 1 h 35 min atrás
Indian Shares Set To Open On Firm Note

Indian Shares Set To Open On Firm Note

Gift Nifty futures indicate a positive opening for Indian markets as a resounding victory for the BJP-led NDA in the Bihar elections added to stability to the coalition government at the Centre.
RTTNews | 2 h 8 min atrás
Lower Open Called For Thai Stock Market

Lower Open Called For Thai Stock Market

The Thai stock market headed south again on Friday, one day after ending the two-day slide in which it had given up more than 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just beneath the 1,270-point plateau and it's expected to see continued consolidation on Monday.
RTTNews | 2 h 40 min atrás
Indonesia Shares May Take Further Damage On Monday

Indonesia Shares May Take Further Damage On Monday

The Indonesia stock market has finished lower in back-to-back sessions, falling almost 20 points or 0.3 percent along the way. The Jakarta Composite Index now sits just above the 8,370-point plateau and it's likely to open under water again on Monday.
RTTNews | 3 h 10 min atrás