The following is a list of deals covered in detail by M and A Navigator this week:
-PAYMENT DATA SYSTEMS AGAIN EXTENDS EXPIRATION DATE OF DEAL TO ACQUIRE SINGULAR PAYMENTS
US-based electronic payment solutions provider Payment Data Systems, Inc. (NASDAQ: PYDS) has amended the terms of its non-binding letter of intent to acquire Singular Payments, LLC to extend its expiration until 31 August 2017, the company said.
The company previously extended the expiration date, until 1 August. The amendment was agreed upon by both Payment Data and Singular, in order to allow more time to finalise the transaction. US-based electronic payment solutions provider Payment Data Systems, Inc. (NASDAQ: PYDS) has amended the terms of its non-binding letter of intent to acquire Singular Payments, LLC to extend its expiration until 1 August 2017, the company said.
-STAR GAS PARTNERS ACQUIRES BUSINESSES IN MICHIGAN, NEW YORK USA
US-based home energy distributor and services provider Star Gas Partners, L.P. (NYSE: SGU) has acquired two businesses that further expand its customer base and, in one case, its geographic footprint, the company said.
Star Gas Partners purchased certain assets of one entity in Imlay City, Michigan and another located in Plainview, New York. The former serves approximately 3,000 accounts with annual volume (propane and motor fuel) of 3.8m gallons, while the latter has roughly 16,800 accounts with annual volume (heating oil, propane, and motor fuel) of approximately 15.5 m gallons.
-FERRELLGAS ACQUIRES TWO PROPANE RETAILERS IN TENNESSEE, USA
Missouri, US-based midstream services company Ferrellgas Partners, L.P. (NYSE: FGP) has acquired two Tennessee, US-based propane retailers, Lindsey Propane and Sevier County Propane, the company said.
The transaction is expected to be immediately accretive and will allow Ferrellgas to better service customers in central and eastern Tennessee regions. A local provider in Williamsport, Tennessee, Lindsey Propane offers commercial, industrial, agricultural, and residential propane services to customers in nine middle Tennessee counties.
-ENEL GROUP CLOSES USD 250M ACQUISITION OF US ENERGY INTELLIGENCE SOFTWARE FIRM ENERNOC
Italian power utility and integrated electricity and gas operator Enel Group has closed its acquisition of US-based demand response solutions and energy intelligence software company EnerNOC, Inc. (NASDAQ: ENOC), the group said.
This deal was announced in June. Enel Green Power North America acquired EnerNOC for approx. USD 250m following successful completion of tender offer and fulfillment of all conditions to the closing of the transaction. This transaction makes Enel Group a leader in demand response services, incorporating EnerNOC's more than 8,000 customers, 14,000 sites under management and 6gw of demand response capacity.
-NAVIOS MARITIME CONTAINER CLOSES USD 118M ACQUISITION OF 14 CONTAINER VESSELS
Greece-based drybulk and container vessel owner and operator Navios Maritime Partners L.P. (NYSE: NMM) has closed the acquisition of the remaining four container vessels and as a result has completed the acquisition of the entire 14 container vessels fleet, the company said.
Navios Containers acquired the 14 vessels for a total purchase price of USD 118m plus certain delivery and other operating costs. The Fleet was partially financed through two loan facilities of USD 61m in aggregate, including a previously announced USD 40m facility, and a recently completed USD 21m facility. Following this acquisition, Navios Containers controls a fleet of 14 vessels, totaling 57,100 TEU and the current average age of the fleet is 9.7 years.
-TITAN ENERGY CLOSES USD 105M SALE OF RANGELY FIELD STAKE
Australian oil and gas exploration and production company Titan Energy, LLC (ASX: TTE) (OTCQX: TTEN) has closed the divestiture of its 25% non-operated interest in the Colorado, US-based Rangely Field for USD 105m subject to customary closing adjustments.
This deal was announced in June. Rangely is a CO2 flood located in Rio Blanco County, Colorado, and operated by Chevron. The transaction includes the sale of Titan's interest in Rangely, its 22% interest in Raven Ridge Pipeline, a CO2 transportation line, as well as surrounding acreage in Rio Blanco and Moffat Counties, Colorado. In 1Q17, the Rangely assets generated approximately 2,500 boepd of net production (90% oil, 10% liquids), Tital said.
-UK PENSION REGULATOR CLEARS PLAN TO SEPARATE BRITISH STEEL PENSION SCHEME FROM TATA STEEL
Indian steelmaker Tata Steel (NSE: TATASTEEL) has received clearance from the UK Pensions Regulator regarding the separation of the British Steel Pension Scheme from Tata Steel, which is an important step in the Indian firm's plan to merge its UK and European steel operation with those of German steelmaker Thyssenkrupp, the company said on Friday.
However, Thyssenkrupp has expressed its caution at getting into a scheme in which it would take on Tata Steel's GPB 15bn pension obligations in the UK. When the RAA takes effect, Tata Steel will pay GBP 550m into BSPS and will also give the British Steel Pension Scheme a 33% equity stake in Tata Steel UK Ltd.
-VIETNAMESE TELECOMMUNICATIONS FIRM FPT SELLS 30% OF ITS FRT SUBSIDIARY TO DRAGON CAPITAL, VINACAPITAL
Vietnamese telecommunications company FPT Corp has completed transferring 30% of its FPT Digital Retail JSC (FPT Retail)'s subsidiary's charter capital, which is equivalent to 6m shares, to funds managed under and associated with Dragon Capital and VinaCapital, the company said on Friday.
FPT Retail is currently the second largest retailer in Vietnam. Terms of the deal were not disclosed. Until July 2017, FPT Retail operated 438 stores nationwide. With revenue of USD 15,717 per square meter, FPT Retail is the most effective retailer, according to Euromonitor and Retail Asia Publishing. Dragon Capital and VinaCapital are the largest foreign financial investors in Vietnam, having USD 2.1bn and USD 1.8bn of assets under management, respectively.
-TRINITY EXPLORATION SELLS WEST COAST ASSETS FOR USD 4.55M
UK-based, Trinidad and Tobago-focused energy exploration and production company Trinity Exploration and Production plc (AIM: TRIN) has entered into a binding sale and purchase agreement to sell its interests in the Brighton Marine and the Point Ligoure - Guapo Bay - Brighton Marine Exploration and Production Licences and related fixed assets...