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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| TAG Immobilien AG | TG:TEG | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.17 | -1.27% | 13.22 | 13.16 | 13.27 | 13.46 | 13.15 | 13.42 | 31,490 | 22:50:03 |
From Jun 2019 to Jun 2024
Integrys Energy Group Inc. (TEG)said Friday it will sell its Canadian natural-gas and electric-power contract portfolio to Royal Dutch Shell PLC (RDSA, RDSB).
Chicago-based Integrys in the winter announced it would exit its retail energy business as capital requirements made it increasingly difficult to act as a middleman between producers and consumers.
The Royal Dutch Shell deal will cut the company's collateral requirements by $300 million. The sale, which requires regulatory approvals, is expected to close in the third quarter.
"We are pleased to have reached an agreement with [Royal Dutch Shell] at a value that is in keeping with our recovered capital expectations for the full nonregulated segment divestiture," Integrys Chief Executive Charles Schrock said in a press release.
Integrys plans to use the money supporting the retail business to grow its regulated utilities in the Midwest. The sale does not include all of Integrys' contract portfolio in Canada. A 2 billion-cubic-foot natural-gas storage contract will be sold separately.
A spokesman for the company said the Canadian business represents about 15% of retail's collateral requirements. Friday's announcement is the first deal since Integrys announced it would exit the retail business.
-By Mark Peters, Dow Jones Newswires; 212-416-2457; mark.peters@dowjones.com
1 Year TAG Immobilien Chart |
1 Month TAG Immobilien Chart |
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