Devon to buy Northstar for $565 million in stock, boost holdings in Canada

Article Abstract:

Oklahoma City-based Devon Energy Corp. agreed to purchase Northstar Energy Corp. of Calgary, Alberta for $565 million in stock in an agreement that will significantly increase Devon's natural gas operations in Canada. The acquisition of Northstar will provide Devon with proven reserves of 550 billion cubic feet of natural gas and 36 million barrels of natural-gas liquids and oil and will split the new company's total assets almost exactly between oil and natural gas and between Canadian and US holdings. Devon will also assume approximately $312 million of Northstar's debt as part of the deal.

Comment:

Devon Energy to increase its natural gas holdings w/purchase of Northstar for $565 mil in stock

United States, Canada, Natural Gas, Crude Petroleum and Natural Gas Extraction, Expanded capacity, plant expansion, Energy, Utilities, Power resources, Northstar Energy Corp., Deveon Energy Corp.

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KKR to buy Hoechst unit for $1.67 billion

Article Abstract:

Kohlberg Kravis Roberts and Co. (KKR) will buy paints unit, Herberts GmbH, from Hoeschst AG for $1.67 billion. This is KKR's largest transaction in a $4 billion European buying binge in the past 15 months. Hoescht's divestment is part of the German chemical company's transformation into a life sciences company. "There's a lot going on in Europe, which seems to be entering a phase of restructuring where conglomerates like Hoeschst are deciding to concentrate on few core businesses," said Clifton Robbins, a KKR partner.

Comment:

Kohlberg Kravis Roberts and Co. will buy paints unit from Hoeschst AG for $1.67 billion

Germany, Chemicals & Allied Products, Chemical Manufacturing, Investment Companies, Open-End Investment Funds, Chemicals, Kohlberg Kravis Roberts & Co., Hoechst AG

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