Latest news with #EQT
Reuters
19 hours ago
- Business
- Reuters
US energy firm EQT agrees to settle lawsuit for $167.5 million
June 27 (Reuters) - U.S. energy company EQT (EQT.N), opens new tab agreed to pay $167.5 million to settle a class action lawsuit filed by investors who claimed EQT overstated the benefits of its $6.7 billion merger with Rice Energy in 2017, according to a federal court filing on Thursday by the plaintiffs. Officials at EQT were not immediately available for comment. Plaintiffs in the case include the Government of Guam Retirement Fund, Eastern Atlantic States Carpenters Annuity Fund, Eastern Atlantic States Carpenters Pension Fund and Cambridge Retirement System. When the deal was announced in 2017, it was expected to create the biggest natural gas producer in the U.S. and was the biggest deal ever for EQT as it looked to expand its gas business. EQT is currently the No. 2 gas producer in the country. "The recovery - $167.5 million in cash - is notable as it is (by far) the largest securities class action recovery ever in the history of this District and the 14th largest in the history of the Third Circuit," the plaintiffs said in a filing. The district is the U.S. District Court Western District of Pennsylvania. The Third Circuit is the U.S. Court of Appeals for the Third Circuit. The plaintiffs said in the filing that they reached the settlement after almost six years of litigation and three mediation sessions. "The Settlement provides a favorable result for Class Members because it allows for an immediate recovery and removes the considerable possibility that Class Members could recover significantly less or even nothing," according to the filing. The case is In Re EQT Corporation Securities Litigation filed in June 2019, according to the federal court website.
Yahoo
19 hours ago
- Business
- Yahoo
US energy firm EQT agrees to settle lawsuit for $167.5 million
(Reuters) -U.S. energy company EQT agreed to pay $167.5 million to settle a class action lawsuit filed by investors who claimed EQT overstated the benefits of its $6.7 billion merger with Rice Energy in 2017, according to a federal court filing on Thursday by the plaintiffs. Officials at EQT were not immediately available for comment. Plaintiffs in the case include the Government of Guam Retirement Fund, Eastern Atlantic States Carpenters Annuity Fund, Eastern Atlantic States Carpenters Pension Fund and Cambridge Retirement System. WHY IT'S IMPORTANT When the deal was announced in 2017, it was expected to create the biggest natural gas producer in the U.S. and was the biggest deal ever for EQT as it looked to expand its gas business. EQT is currently the No. 2 gas producer in the country. "The recovery - $167.5 million in cash - is notable as it is (by far) the largest securities class action recovery ever in the history of this District and the 14th largest in the history of the Third Circuit," the plaintiffs said in a filing. The district is the U.S. District Court Western District of Pennsylvania. The Third Circuit is the U.S. Court of Appeals for the Third Circuit. The plaintiffs said in the filing that they reached the settlement after almost six years of litigation and three mediation sessions. "The Settlement provides a favorable result for Class Members because it allows for an immediate recovery and removes the considerable possibility that Class Members could recover significantly less or even nothing," according to the filing. The case is In Re EQT Corporation Securities Litigation filed in June 2019, according to the federal court website. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
EQT-Backed SK Shieldus' $2.4 Billion-Equivalent Loan Launches
EQT-backed South Korean cyber security firm SK Shieldus Co. has launched an around $2.4 billion-equivalent syndicated loan to refinance a facility that had backed its acquisition, according to people familiar with the matter. The five-year refinancing, which is denominated in Korean won, is being marketed to the broader market, notably to South Korean banks, said the people, who asked not to be identified discussing private matters. KB Securities, Kookmin Bank and Korea Investment & Securities Co. are the joint arrangers, they said.
Bloomberg
2 days ago
- Automotive
- Bloomberg
EQT Sells Pioneer for $1.1 Billion in Second Japan Exit in 2025
EQT AB agreed to sell Pioneer Corp. for $1.1 billion, marking the biggest exit in Japan for the Swedish buyout firm that sees Japan as a key pillar of its dealmaking strategy in the region. Two of EQT's funds agreed to sell the Japanese automotive electronics manufacturer to CarUX, a subsidiary of Taiwan-listed Innolux Corp., according to a statement Thursday. The transaction is subject to customary conditions and approvals and is expected to be completed in the fourth quarter.
Yahoo
4 days ago
- Business
- Yahoo
EQT exits property remediation specialist Recover
Following EQT's acquisition in 2020, Recover has invested in its digital capabilities while divesting non-core business units to sharpen focus on water, fire and other core property remediation services STOCKHOLM, June 24, 2025 /PRNewswire/ -- Recover, a leading Scandinavian property remediation specialist, today announced a change of ownership from EQT VIII ("EQT") and minority investors to industrial investment company Pangea AS. Recover, which employs approximately 1,730 people across the Nordics, plays a critical role in providing essential restoration services following water, fire, and environmental damage. EQT acquired the Company in early 2020 and despite the challenges presented by the COVID-19 pandemic, Recover has undergone a significant transformation. The Company has been future-proofed through strategic investments in digitization, including a new ERP and FSM system, and has sharpened its focus by divesting non-core business units. Åge Landro, CEO of Pangea and Chair of Recover, commented: "Recover is a market-leading platform with strong operations and highly dedicated employees. We are excited to partner with the Company and look forward to supporting its continued growth journey across the Nordics and beyond." Juho Frilander, Managing Director in the EQT Private Equity advisory team, added: "We would like to thank the management team and all employees at Recover for their hard work and commitment over the past years. The transformation of the business has been impressive and Recover is now well-positioned to thrive in the years to come." The transaction is subject to customary conditions and regulatory approvals. ContactEQT Press Office, press@ This information was brought to you by Cision The following files are available for download: PR_EQT exits property remediation specialist Recover_24.06.25 pexels-nicobecker-5667392 View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
