Icahn Enterprises (IEP) and Mavis Tire Express Services said Thursday that a subsidiary of Mavis completed its previously announced acquisition of The Pep Boys-Manny, Moe & Jack from Icahn Automotive Group for about $700 million in cash.
Pep Boys will retain its brand identity as part of the Mavis family of brands.
Icahn Enterprises retained the real estate previously transferred from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care businesses, the companies said.
Cenergy (CENER.BR) said Wednesday its steel pipes segment secured a contract worth between $200 million and $250 million to supply line pipe for a liquefied natural gas development in Mozambique.Corinth Pipeworks received the contract from the local arm of fuels and chemicals group ExxonMobil, the delegated operator of the Rovuma LNG phase 1 Project. ExxonMobil Mozambique is developing the project with Italian energy company Eni (ENI.MI) and China National Petroleum Corp.The Belgian industrial holding company's subsidiary will supply 250 kilometers of line pipes with anti-corrosion coating and concrete weight coating. The pipes will be manufactured at its site in Thisvi, Greece.
DNO ASA (DNO.OL) agreed to sell its interests in Côte d'Ivoire to Panoro Energy (PEN.OL) for a total consideration of $86.5 million.The sale consideration comprises $65.1 million in cash and 7 million new Panoro shares, the Norwegian oil and gas companies announced on Wednesday. The business presently averages 3,300 barrels of oil equivalent per day net to DNO.Panoro noted that the business, DNO CI, holds an indirect 9.09% interest in the gas-producing Block CI-27 offshore Côte d'Ivoire.The deal is expected to be completed in mid-September.
(Updates to add Saudi Aramco statement)Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, reportedly informed at least three crude buyers from Europe that they will receive their full contractual allocations for September, Bloomberg News reported Wednesday, citing people with knowledge of the matter.Two oil refiners will receive their shipments from Egypt's Sidi Kerir port, and the third buyer was given the option to take delivery from Sidi Kerir, Saudi Arabia's Yanbu port, or a ship-to-ship transfer from Malta.Aramco declined to comment when reached by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)