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Rumored Deal Analysis - BP Plans To Sell Canadian Natural Gas Assets For $2 Billion - Deal Analysis From GlobalData
GlobalData, Dec 2010, Pages: 6
Rumored Deal Analysis - BP Plans To Sell Canadian Natural Gas Assets For $2 Billion - Deal Analysis From GlobalData
Summary
BP p.l.c. (BP) intends to sell its Canadian natural gas liquids business for a consideration of approximately $2 billion, according to a Bloomberg report. Enbridge Inc. (Enbridge), and TransCanada PipeLines Limited (TransCanada Pipelines), a wholly owned subsidiary of TransCanada Corporation (TransCanada), intend to participate in the transaction, bidding for the assets, according to sources. The assets comprise of pipelines and processing stations that remove valuable crude-like liquids from gas. The assets include the 4.6 billion cubic feet (bcf) a day Empress fractionation plant on the Alberta-Saskatchewan border, and other plants in Fort Saskatchewan, Alberta, and Sarnia, Ontario. Credit Suisse Group AG is acting as financial advisor to BP with respect to the transaction, according to sources
Scope
- Rational behind BP selling its Canadian natural gas asset is that it require to pay clean up cost for Oil spill in Gulf of Mexico.
- Geography covered - Canada,
- Deal Financials and Valuations
- Information on BP and its Canadian Natural Gas assets
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the US oil & gas market
- Get a detailed analysis of a deal to enable you to take better decisions
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