After Hours Market: Fuwei Films, Macquarie Infrastructure Gain; Altimmune, FuelCell Energy Slip
BEIJING (dpa-AFX) - Fuwei Films (Holdings) Co., Ltd. (FFHL) - Shares of the Chinese PET film maker gained 16% in after hours trading on top of 23% gain in regular trading. Fuwei Films announced that the open bidding initiated to sell its Dornier production line resulted in a successful bid. Huizhou Yidu Yuzheng Digital Technology won the bidding at a price of RMB138.0 million or about $21.07 million.
Macquarie Infrastructure Corp. (MIC) - Shares of the company rose over 4% in the extended trading session on Wednesday. Macquarie Infrastructure announced it has successfully completed the sale of its International-Matex Tank Terminals business to an affiliate of Riverstone Holdings for $2.67 billion and including assumed debt of around $1.11 billion. The board has authorized the payment of a one-time dividend of $11.00 per share.
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Macquarie Infrastructure Corporation (NYSE:MIC) today announced that it has successfully completed the sale of its International-Matex Tank Terminals ( IMTT ) business to an affiliate of Riverstone Holdings, Inc. for $2.67 billion, net of closing adjustments, and including assumed debt of approximately $1.11 billion. MIC announced that it had entered into the agreement to sell IMTT on November 9, 2020.
As previously indicated, the MIC board of directors has elected to return all the net proceeds from the sale, after payment of taxes and expenses and providing for the repayment of holding company level debt, to shareholders in a special dividend. The board has authorized the payment of a one-time dividend of $11.00 per share of MIC common stock. The special dividend will be payable January 8, 2021 to stockholders of record as of the close of trading January 5, 2021.
Oil, gas deal tracker: M&A activity slowed significantly in November
Large-scale oil and gas M&A deal-making tapered off significantly in November following a tidal wave of consolidation activity in October.
During the month, the sector announced 32 whole-company and minority-stake deals, which compared to 34 in November 2019. The combined value of the November 2020 deals rose year over year from $3.07 billion to $4.86 billion, but still fell far short of October’s $32.14 billion.
The aggregate value of announced asset transactions increased over 100% from $443 million to $1.00 billion, and the number of deals rose from 15 to 23.
Riverstone Holdings LLC’s $2.69 billion acquisition of bulk liquid storage and terminal facilities operator International-Matex Tank Terminals Inc. from Macquarie Infrastructure Corp. was the biggest deal announced in November. In October 2019, MIC announced that it was pursuing strategic alternatives, including the sale of the company or its operati
November saw significant transactions in Louisiana M&A
In one of the biggest Louisiana transactions in 2020, Riverstone Holdings, LLC, a private equity firm focused on energy and power, has agreed to purchase New Orleans-based terminal operator International-Matex Tank Terminals (IMTT) for $2.685 billion. IMTT stores and handles bulk liquid products for the energy, industrial, consumer and transport industries.
The seller, Macquarie Infrastructure Corporation, has held an interest in IMTT since 2006, when it purchased an initial 50% stake from the Coleman family, who founded the company. MIC bought the remaining 50% interest from the Coleman family in 2014 for $1.025 billion.
MITT operates 17 terminals in the United States plus two in Canada, for a total storage capacity of 48 million barrels. Its capacity is concentrated around economic hubs, with around a third of its capacity in the New York Harbor and another third in the Lower Mississippi River. The company enjoys a diversi
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14 Dec, 2020 Author Allison GoodAnna Duquiatan
Large-scale oil and gas M&A deal-making tapered off significantly in November following a tidal wave of consolidation activity in October.
During the month, the sector announced 32 whole-company and minority-stake deals, which compared to 34 in November 2019. The combined value of the November 2020 deals rose year over year from $3.07 billion to $4.86 billion, but still fell far short of October s $32.14 billion.
The aggregate value of announced asset transactions increased over 100% from $443 million to $1.00 billion, and the number of deals rose from 15 to 23.
Riverstone Holdings LLC s $2.69 billion acquisition of bulk liquid storage and terminal facilities operator International-Matex Tank Terminals Inc. from Macquarie Infrastructure Corp. was the biggest deal announced in November. In October 2019, MIC announced that it was pursuing strategic alternatives,