Utilities

FORTIS INC. TO ACQUIRE UNS ENERGY CORPORATION FOR US$4.3 BILLION

Fortis Inc. announced today that it has entered into an agreement and plan of merger to acquire UNS Energy Corporation for US$60.25 per common share in cash

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Power Grip Corp to price share sale at top end of range- sources

State-run electricity distributor Power Grid Corp of India Ltd will be pricing its share sale near the top end of its marketed range, according to sources interviewed by Bloomberg.

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State-owned Power Grid Corporation to raise up to INR7,600 crore in FPO

State-backed Power Grid Corporation is looking to raise as much as INR7,600 crore by selling 84.71 crore shares in a follow-on public offering. Shares will be priced at INR85 to INR90 apiece.

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Reuters report says pension funds, other investors in rush to invest in European infrastructure

At a time when interest rates are low, investors are now seeking to invest in European infrastructure to get higher returns. However, the assets are scarce, according to a Reuters report.

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Polish delivery company Siodemka prepares for Warsaw listing debut

Poland's Siodemka, one of the country's biggest delivery firms, is planning to list on the Warsaw Stock Exchange. 18 companies have already debuted in the Polish bourse this year.

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US-based Aqua America Inc acquires six additional water systems

Six more water systems and wastewater systems were bought by Aqua America Inc in November and December, bringing to 15 the number of its acquisitions this year.

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Portugal raises EUR578M in first IPO of its stake in postal service

Portugal is raising EUR578 million (USD783 million) in the initial public offering of its postal service CTT-Correios de Portugal SA. The Portuguese government is divesting its 70% stake in the mail service.

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Samsung C&T nabs USD1.22 billion order to construct Saudi Arabia power plant

Samsung C&T Corp. on Monday announced that it has been awarded with a KRW1.29 trillion (USD1.22 billion) order to build a power plant in the western Saudi coast. Rabigh 2 power plant is expected to yield 2060 megawatts of electricity.

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Italy state lender eyes 3 bln euros from grid assets sale -sources

Italian state lender Cassa Depositi e Prestiti (CDP) expects to cash in around 3 billion euros ($4.1 billion) by June 2014 from the sale of minority stakes in gas and power grid networks, two sources with knowledge of the matter said on Friday.

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Portugal to sell postal service in first IPO since crisis

The Portuguese government would be selling 70% of postal firm CTT-Correios de Portugal next week in its first initial public offering (IPO) since a financial crisis had hit the nation.

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Paris-based firm Veolia finalizes 50% stake acquisition held by FCC in Proactiva

Veolia Environnement announced that the purchase of the 50% stake of Fomento de Construcciones y Contratas (FCC) in Proactiva Medio Ambiente has been closed in a deal valued at EUR150 million.

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Cable negates UK lawmakers' criticism about Royal Mail IPO being undervalued

UK Business Secretary Vince Cable, with assistance from Business Minister Michael Fallon, presented evidence to the Business Committee of the British Parliament to assure the public that Royal Mail shares in the IPO was not undervalued.

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Private equity offers pour in to Ashland - sources

Ashland, a chemical manufacturer, is in talks with at least seven private equity firms that are all interested in purchasing its water technologies unit in a deal that could fetch upwards of USD 1.5 billion.

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Colorado building and battery startups receive funding from investors

Colorado-based building and battery startups Prescient, Boulder Ionics, and RoundPegg announced that they received funding from investors this week, which will be used for expansion and development.

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Repsol willing to spend USD 10 billion for asset acquisitions

Repsol Chairman told Bloomberg in an interview that the oil producer is willing to acquire assets in US, Canada and Northern Europe. The company is willing to spend up to USD 10 billion for the acquisitions.

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