On Monday, Shares of NiSource Inc. (NYSE:NI), gained 2.42% to $46.58, hitting its highest level.
NiSource, declared recently the reference yield and total consideration for each series of notes subject to the formerly declared cash tender offer made by its finance partner, NiSource Finance Corp. NiSource Finance is offering to purchase up to a combined aggregate principal amount of $750,000,000 of its 5.250% Notes due 2017, 6.400% Notes due 2018, 4.450% Notes due 2021, and 3.850% Notes due 2023.
The Tender Offer is being made following, and subject to the terms and conditions in, an Offer to Purchase, dated May 5, 2015, which sets forth a description of the terms of the Tender Offer.
NiSource Inc., an energy holding company, provides natural gas, electricity, and other products and services in the United States. It operates through three segments: Gas Distribution Operations, Columbia Pipeline Group Operations, and Electric Operations. The Gas Distribution Operations segment offers natural gas service and transportation to residential, commercial, and industrial customers.
Shares of KKR & Co. L.P. (NYSE:KKR), inclined 0.48% to $23.12, during its last trading session.
Fujian Sunner Development Co. Ltd. and global investment firm KKR declared the closing of KKR’s planned investment. KKR invested about $400 million in Sunner for an 18% stake at RMB 12.3 per share (USD 2.0 per share).
Sunner and KKR’s new planned partnership will expand the Company’s operations to provide safe chicken products to increasingly discerning Chinese consumers who seek high‐quality meats. The two will partner in supporting the company’s growth by leveraging Sunner’s industry knowledge and specialist expertise with KKR’s global and local agricultural investment experience and network.
Sunner is China’s largest breeder, processor and supplier of chicken products, providing fresh and frozen chicken for China’s fast food industry, food manufacturing industry and meat wholesale markets. Through its vertically integrated facilities, Sunner has oversight of the full production chain, ranging from chicken farming to the administration of feed mills to processing, which better ensures safe and quality food products and meet high environmental standards.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
At the end of Monday’s trade, Shares of National Oilwell Varco, Inc. (NYSE:NOV), lost -0.18% to $51.18.
National Oilwell Varco, has won nearly $400,000 from Mud King Products Inc. after a bankruptcy judge found that Mud King paid an NOV employee to steal hundreds of NOV’s secret mud pump blueprints that Mud King was using to start manufacturing Chinese knockoffs when the scheme was uncovered.
The court ruling against Houston-based Mud King was issued in its bankruptcy proceeding, which was filed soon after NOV sued the company for trade secret theft. U.S. Bankruptcy Judge Karen Brown ruled that Mud King violated the Texas Theft Liability Act and was liable for misappropriation of trade secrets, awarding $395,327 in damages and attorneys’ fees to NOV.
Mud King declared the conclusion of its Chapter 11 bankruptcy filing with a press release that did not address the court-ordered payment of nearly $400,000 that resulted from the company’s egregious misconduct as a condition of the confirmation of Mud King’s bankruptcy plan.
National Oilwell Varco, Inc. designs, manufactures, and sells equipment and components used in oil and gas drilling, completion, and production; and provides oilfield services to the upstream oil and gas industry worldwide. The company’s Rig Systems segment offers land rigs; offshore drilling equipment packages; and drilling rig components.
Finally, Anadarko Petroleum Corporation (NYSE:APC), ended its last trade with 0.37% gain, and closed at $84.98.
Anadarko Petroleum Corporation, on behalf of the co-venturers in Mozambique’s Offshore Area 1, and after a competitive FEED (front-end engineering and design) process, recently declared the selection of a consortium comprising of CB&I, Chiyoda Corporation and Saipem (CCS JV) for the initial development of the onshore LNG park in Mozambique.
The scope of the work for the onshore LNG park comprises two LNG trains, each with capacity of 6 MMTPA, which is an enhance of 1 MMTPA per train over the original plan, while maintaining an estimated cost that is consistent with the co-venturers’ original projections. The scope also comprises two LNG storage tanks, each with capacity of 180,000 cubic meters, condensate storage, multi-berth marine jetty and associated utilities and infrastructure. The selection of CCS JV is subject to negotiation and entry into a definitive agreement preceding to taking FID.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing. The Oil and Gas Exploration and Production segment explores for and produces natural gas, oil, condensate, and natural gas liquids (NGLs).
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