Latest news with #Partnership
Globe and Mail
an hour ago
- Business
- Globe and Mail
Energy Transfer Announces Increase in Quarterly Cash Distribution
Energy Transfer LP (NYSE: ET) today announced an increase in its quarterly cash distribution to $0.33 per Energy Transfer common unit ($1.32 on an annualized basis) for the second quarter ended June 30, 2025. This cash distribution per Energy Transfer common unit will be paid on August 19, 2025 to unitholders of record as of the close of business on August 8, 2025, and is an increase of more than 3 percent as compared to the second quarter of 2024. In addition, as previously announced, Energy Transfer plans to release earnings for the second quarter of 2025 on Wednesday, August 6, 2025, after the market closes. The company will also conduct a conference call on Wednesday, August 6, 2025 at 3:30 p.m. Central Time/4:30 p.m. Eastern Time to discuss quarterly results and provide a company update. The conference call will be broadcast live via an internet webcast, which can be accessed on Energy Transfer's website at The call will also be available for replay on Energy Transfer's website for a limited time. Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with approximately 140,000 miles of pipeline and associated energy infrastructure. Energy Transfer's strategic network spans 44 states with assets in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids ('NGL') and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and approximately 21% of the outstanding common units of Sunoco LP (NYSE: SUN), and the general partner interests and approximately 38% of the outstanding common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at Forward Looking Statements This news release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. An extensive list of factors that can affect future results, including future distribution levels, are discussed in the Partnership's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events. Qualified Notice This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that one hundred percent (100%) of Energy Transfer LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP's distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors. For purposes of Treasury Regulation section 1.1446(f)-4(c)(2)(iii), brokers and nominees should treat one hundred percent (100%) of the distributions as being in excess of cumulative net income for purposes of determining the amount to withhold. The information contained in this press release is available on our website at
Business Wire
2 days ago
- Business
- Business Wire
Westaim to Invest AUS$154 Million to Finance AUS$3.9 Billion Insignia Acquisition
TORONTO--(BUSINESS WIRE)--The Westaim Corporation (' Westaim ' or the ' Company ') (TSXV: WED) today announced that it has agreed to provide approximately AUS$154 million (US$100 million) (the ' Capital Commitment '), subject to reduction, to finance the proposed acquisition by CC Capital and One Investment Management (together, Daintree Bidco Pty Ltd (' Bidco ')) of Insignia Financial Ltd (' Insignia ') (ASX: IFL), Australia's leading diversified wealth management group with over AUS$330 billion in funds under management and advice. Cameron MacDonald, President and Chief Executive Officer of Westaim, stated: 'Over the past year, we have embarked on a thoughtful transformation of Westaim designed to accelerate our growth, including investing in established, profitable businesses that align closely with our long-term financial objectives. This is a compelling opportunity to partner with CC Capital as we continue to execute on this mission. We are thrilled to support Insignia and are confident this investment will enable us to further drive strong, sustainable returns for our shareholders.' Transaction Details The Company has entered into a subscription agreement with Daintree Group Partners, LP (the ' Partnership ') and Daintree Group Partners GP, LLC, as the sole general partner of the Partnership (the ' General Partner '), pursuant to which Westaim will acquire limited partnership interests of the Partnership (the ' Securities ') in exchange for the Capital Commitment, subject to reduction. The General Partner is controlled by CC Capital, a control person and insider of Westaim and thus the General Partner is a 'related party', or non-arm's length party, to the Company. In connection with the acquisition of the Securities, the Company has also entered into an Amended and Restated Exempted Limited Partnership Agreement of the Partnership by and among the General Partner and the limited partners of the Partnership. The Partnership owns or will acquire an indirect interest in all or a portion of the shares of Bidco, and Bidco will acquire all of the ordinary share capital of Insignia by way of a scheme of arrangement and pursuant to a Scheme Implementation Deed (the ' Insignia Transaction '). The Insignia Transaction is subject to customary regulatory and closing conditions (the ' Insignia Closing Conditions '), including approvals from the Foreign Investment Review Board (FIRB), the Australian Prudential Regulation Authority (APRA), the Court and Insignia shareholders. Insignia shareholders are expected to vote on the scheme of arrangement in the first half of 2026 with the transaction to close shortly thereafter. The Capital Commitment will be paid in cash to the Partnership, subject to the satisfaction of certain closing conditions, including receipt by Westaim of the approval of the Capital Commitment from the TSX Venture Exchange (the ' TSXV ') and the Insignia Closing Conditions. No finder's fees are to be paid in connection with the Capital Commitment. The Capital Commitment constitutes a 'related party transaction' as defined in Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions (' MI 61-101 '). The Capital Commitment is exempt from the: (i) formal valuation requirements of MI 61-101 as the Company's shares are not listed or quoted on a specified market; and (ii) minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration to be paid for the Securities by Westaim, will exceed 25% of Westaim's market capitalization. About Westaim Westaim is an integrated insurance and alternative asset management company with two primary operating businesses: Ceres Life and Arena. Ceres Life is a cloud-native, highly scalable, de novo annuity insurance company. Inspired by the belief that technology can reinvent the way insurance providers meet the needs of investors, Ceres Life is building a nimble, highly efficient, and risk-conscious insurance company that provides simple-to-understand and easily accessible annuity products to create better outcomes for policyholders. Ceres Life is led by Deanna Mulligan, former CEO and Chair of Guardian Life Insurance. For more information, see Founded in 2015, Arena is a global institutional asset manager with deep expertise in credit and asset-oriented investments, including the full spectrum of corporate, real estate and structured finance opportunities. With a team of over 180 employees in offices around the world, Arena provides creative solutions for those seeking competitive capital and flexibility to engage in custom transactions. For more information, see Westaim's common shares are listed on the TSXV under the trading symbol 'WED'. For more information, visit our website at or contact: Cameron MacDonald, President and Chief Executive Officer or Matthew Skurbe, Chief Financial Officer and Chief Risk Officer The Westaim Corporation info@ (416) 969-3333 Cautionary Note and Forward-Looking Statements This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (" forward-looking statements"), including with respect to the closing of the Insignia Transaction, the Capital Commitment and the acquisition by the Company of the Securities, as well as the benefits of the Insignia Transaction and the Company's strategy. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of management of Westaim at the date the statements are made based on information then available to Westaim. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements including past practice of the Company. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of Westaim, which may cause Westaim's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Additional information regarding risks and uncertainties relating to the Company's business are contained under the heading " Risk Factors" in its annual information form for its fiscal year ended December 31, 2023 and in Westaim's management information circular dated November 19, 2024 filed on the Company's profile on SEDAR+ at Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Time of India
3 days ago
- Business
- Time of India
Andhra Pradesh to develop India's largest ecosystem for green hydrogen
Amaravati: The Green Hydrogen Valley proposed by the government of Andhra Pradesh aspires to become India's green hydrogen capital by 2030, promoting the country's largest eco-system for production of green hydrogen and its derivatives in partnership with industry and academia. It also aims to accelerate domestic R and D and capacity building in green hydrogen technologies, including testing facilities. Chief Minister N. Chandrababu Naidu on Monday released Green Hydrogen Valley-Amaravati declaration The key targets under Green Hydrogen Valley include establishing Electrolyser manufacturing capacity of 2 GW by 2027 and 5 GW by 2029, 1.50 MMTPA Green Hydrogen production capacity by 2029, achieving cost reduction from ₹460 per Kg to ₹160-170 per Kg by 2029 and creation of transmission infrastructure (Green Energy Corridor) to evacuate 25 GW RE power by 2029. The declaration was finalised based on the deliberations at the Green Hydrogen Summit held last week here in association with the Government of Andhra Pradesh and NREDCAP. The summit focused on green hydrogen production, storage, and distribution; green hydrogen applications in industry, transport, and power generation; policy, standards, and capacity building for a sustainable hydrogen ecosystem. According to the declaration, by 2030 at least 60 per cent of all electrolyser components and storage solutions deployed in the state will be produced locally, reducing import dependency. At least three new production units for electrolyser and hydrogen storage manufacturing will be established, with a combined production capacity of at least 4-5 GW for electrolyser equipment. The Green Hydrogen Valley will establish skilling ecosystem, specialised research Hubs with dedicated green hydrogen research centres, create cross-disciplinary labs, encourage collaborations with premier institutes, promote Public-Private Partnership (PPP) models to fund breakthrough projects, incentivise joint ventures between local start-ups and global hydrogen tech firms and facilitate knowledge exchange forums, workshops, and annual innovation summits. The Green Hydrogen Valley will establish India's first Integrated Green Hydrogen Skilling Eco System in collaboration with reputed Universities and Institutions, to offer engineer upskilling and technician certifications - training 200 specialists in the first year and 2,000 annually by 2030. The declaration says that the Green Hydrogen Valley will spearhead the creation of a robust start-up ecosystem in the green hydrogen sector. To catalyse innovation, the state will support start-ups working across the entire green hydrogen value chain. To catalyse innovation, the state will allocate ₹500 crore over five years to support at least 50 start-ups working across the entire green hydrogen value chain. To support the development of green hydrogen technologies, the Government of Andhra Pradesh will promote world-class Research and Development (R and D) centres and advanced testing facilities involving SRM University-AP as the state nodal agency, to carry out advanced research in green hydrogen technologies, including the testing facilities, with active support from the Nation's Mission. The declaration noted that Andhra Pradesh is richly endowed with solar and wind energy potential, complemented by pumped hydro storage capacity, creating favourable conditions for large-scale development of green hydrogen. The state's long coastline further strengthens its position by offering an ideal ecosystem for exporting green hydrogen and its derivatives to Southeast Asian countries. The state government established the first thematic centre under the World Economic Forum's Centre for the Fourth Industrial Revolution (C4IR) network in collaboration with WEF's Centre for Energy and Materials (CENMAT), which focuses on energy transition and green industries, driving innovation and sustainable growth in the region. --IANS ms/uk
CTV News
3 days ago
- Business
- CTV News
Sask. signs trade MOUs with Manitoba, PEI
Regina Watch WATCH: Saskatchewan has inked two new MOUs, this time with Manitoba and Prince Edward Island.
Gulf Today
4 days ago
- Business
- Gulf Today
Global gas flaring surged for second year in row, wasting about $63 billion in lost energy: WB
Global gas flaring surged for a second year in a row, wasting about $63 billion in lost energy and setting back efforts to manage emissions and boost energy security and access. Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year and the highest level in almost two decades. An estimated 389 million tonnes of CO₂ equivalent—46 million of that from unburnt methane, one of the most potent greenhouse gases—was needlessly emitted. While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring, but less than half of global oil production. Satellite data compiled and analysed in the World Bank's annual Global Gas Flaring Tracker shows that flaring intensity—the amount of gas flared per barrel of oil produced—has remained stubbornly high for the last 15 years. 'When more than a billion people still don't have access to reliable energy and numerous countries are seeking more sources of energy to meet higher demand, it's very frustrating to see this natural resource wasted,' said Demetrios Papathanasiou, World Bank Global Director for Energy and Extractives. The report highlights that countries committed to the Zero Routine Flaring by 2030 (ZRF) initiative have performed significantly better than countries that have not made the commitment. Since 2012, countries that endorsed ZRF achieved an average 12% reduction in flaring intensity, whereas those that did not saw a 25% increase. To accelerate progress, the World Bank's Global Flaring and Methane Reduction (GFMR) Partnership is supporting methane and flaring reduction projects through catalytic grants, technical assistance, policy and regulatory reform advisory services, capacity building, and institutional strengthening. 'Governments and operators must make flaring reduction a priority, or this practice will persist. The solutions exist. With effective policies we can create favourable conditions that incentivize flaring reduction projects and lead to sustainable, scalable action. We should turn this wasted gas into an engine for economic development.' said Zubin Bamji, World Bank Manager for the Global Flaring & Methane Reduction (GFMR) Partnership. WAM
