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Stock Market & Financial Investment News

News Breaks
March 17, 2014
06:10 EDTCG, ECAEncana in talks to sell Jonah Hill fields to Carlyle, NGP for $2B, WSJ reports
Encana (ECA) in advanced talks to sell its holding in the Jonah Field natural-gas fields in Wyoming to Carlyle (CG) and NGP Energy Capital Management, the Wall Street Journal reports. The natural-gas fields could sell for about $2B. Encana is shifting its focus away from natural gas. Reference Link
News For ECA;CG From The Last 14 Days
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October 9, 2015
08:36 EDTECAEncana price target raised to $12 from $10 at BMO Capital
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07:37 EDTCGPrivate equity asset managers attractive, says Oppenheimer
Oppenheimer expects the private equity-based asset managers to report Q3 negative economic net income. However, Oppenheimer believes that such losses are "a fiction" created by accounting. Oppenheimer's analyst continues to believe that these companies have the best business mode he has sen in 30 years of covering financial stocks, and views the group as significantly undervalued. He expects the group's cash earnings to continue on an upward path, and says that Blackstone (BX), Carlyle Group (CG), and KKR (KKR) all had "significant realizations" in Q3 and have strong backlogs.
October 8, 2015
06:42 EDTECAEncana agrees to sell DJ Basin assets for $900M
Encana announced that its wholly-owned subsidiary, Encana Oil & Gas, has reached an agreement to sell its Denver Julesburg, or DJ, Basin assets in Colorado to a new entity 95% owned by Canada Pension Plan Investment board and 5% by The Broe Group. Total consideration to Encana under the transaction is approximately $900M. Encana will use the cash proceeds to further strengthen its balance sheet and create greater flexibility in this market environment. When combined with net proceeds from previously announced asset sales, cash proceeds from divestitures in 2015 will total approximately $2.7B. The company expects to have reduced its net debt in 2015 by approximately $3B by year-end.
October 7, 2015
12:18 EDTCGCarlyle eyes small acquisitions with Japan buyout fund, Bloomberg says
Carlyle Group plans to use the nearly $1B in its third Japan buyout fund to buy family-owned firms and other mid-cap companies, Bloomberg reports, citing Tamotsu Adachi, the company's managing director and co-representative for Japan. In Tokyo, Carlyle often seeks family-owned companies with enterprise values of below $300M, the report says. Reference Link

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