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Stonepeak

All articles tagged with #stonepeak

energy-policy1 month ago•59 min saved

RWE’s $900M Wind Exit Channels Funds to Trump Donor’s LNG Firm

German energy giant RWE agreed to abandon offshore wind leases in New York, California, and Louisiana in exchange for $1.2 billion from a federal fund. Approximately $900 million of this payout is being used to purchase a stake in a Louisiana liquefied natural gas (LNG) project controlled by Stonepeak, a private equity firm co-founded by Michael Dorrell, a major donor to the Trump administration. While the White House denies directing the investment, critics argue the deal benefits a political ally and fails to advance new energy infrastructure.

via Yahoo|

#energy-policy #lng #offshore-wind

energy-and-politics1 month ago•5 min saved

RWE’s $1.2B Wind Exit Routes $900M to Trump Donor’s Firm

German energy giant RWE agreed to abandon its U.S. offshore wind leases in exchange for a $1.2 billion federal payout. Approximately $900 million of this sum is being used to purchase a stake in a Louisiana liquefied natural gas project from Stonepeak, a private equity firm co-founded by Australian billionaire Michael Dorrell, a major donor to the Trump administration. While the White House denies any conflict of interest, lawmakers and experts argue the deal benefits a political ally without adding new value to the energy project.

via The Washington Post|

#energy-and-politics #louisiana-lng #michael-dorrell

business9 months ago•3 min saved

Stonepeak to Acquire Major Stake in Castrol from BP in $10 Billion Deal

bp has agreed to sell a 65% stake in Castrol to Stonepeak for $10.1 billion, as part of its strategy to simplify its portfolio and strengthen its balance sheet, with the transaction expected to complete by the end of 2026 and proceeds used to reduce debt.

via BP Global|

#bp #business #castrol

business9 months ago•3 min saved

Stonepeak to Acquire Majority Stake in Castrol from BP for $6 Billion

BP is selling a 65% stake in its Castrol lubricants business to private equity firm Stonepeak for $6 billion as part of its strategy to reduce debt and focus on core oil and gas operations, with BP retaining a 35% stake and the deal expected to complete by the end of 2026.

via Reuters|

#bp #business #castrol

business10 months ago•3 min saved

BP to sell majority stake in Castrol in multi-billion dollar deal

BP has agreed to sell a 65% stake in its Castrol lubricants business to US investment firm Stonepeak for $10.1 billion, as part of BP's strategy to reduce debt and streamline operations, with proceeds to be used for debt repayment and strategic refocusing.

via The Guardian|

#bp #business #castrol

business10 months ago•4 min saved

Stonepeak and CPPIB to Acquire Major Stake in Castrol from BP

Stonepeak is set to acquire a majority stake in Castrol from BP in a $10.1 billion deal, with BP retaining a 35% interest and CPP Investments investing up to $1.05 billion, supporting Castrol's growth in the global lubricants market.

via Stonepeak|

#acquisition #bp #business

business1 year ago•13 min saved

Stonepeak Acquires Air Transport Services Group for $3.1 Billion

Air Transport Services Group (ATSG) has agreed to be acquired by Stonepeak, an investment firm, for $3.1 billion in an all-cash deal. ATSG shareholders will receive $22.50 per share, a 29.3% premium over the recent closing price. The acquisition, approved by ATSG's board, will make ATSG a private company, enhancing its global presence in air cargo leasing. The transaction is expected to close in the first half of 2025, pending shareholder and regulatory approvals.

via Stonepeak|

#acquisition #atsg #aviation

business3 years ago•0 min saved

Stonepeak Acquires Textainer in $50 per Share Deal - WSJ

Infrastructure investor Stonepeak has agreed to acquire shipping-container lessor Textainer for over $2 billion, with Textainer investors receiving $50 per share in cash. The deal values Textainer at approximately $2.1 billion and, factoring in its debt, the total deal is worth around $7.4 billion.

via The Wall Street Journal|

#business #deal #infrastructure-investor

business3 years ago•1 min saved

Stonepeak's Acquisition of Textainer: Shipping-Container Firm Sold for $50 per Share

Infrastructure fund Stonepeak has agreed to acquire shipping container lessor Textainer Group for $2.1 billion, offering $50 per share in cash, representing a 46% premium to Textainer's closing price on Friday. The deal, including debt, is valued at approximately $7.4 billion and is expected to close in Q1. The agreement includes a 30-day "go-shop" period for Textainer to consider alternative acquisition proposals. Textainer will continue to be led by its current CEO and maintain its headquarters in Bermuda.

via Seeking Alpha|

#acquisition #business #infrastructure-fund