Utilities

Australia’s largest pipeline company APA Group jumped 11.1 percent in June following Hong Kong–based CK Infrastructure’s $9.5 billion bid during the month. In an ASX release on June 13, the APA Board stated it makes “no recommendation” to CKI’s “unsolicited proposal” and advised shareholders to take no action at this stage.

At the end of May, ENEL won the acquisition of Brazil’s largest power distribution company, Electropaulo. The company’s final round offer represented a price per share of 45.22 Brazilian reals. It beat the bid from Neoenergia, which is controlled by Spain’s Iberdrola. Brazil’s energy consumption is predicted to grow 60 percent by 2040, according to the latest BP Energy Outlook report.

Oil & gas distribution

On June 28, the Minnesota Public Utilities Commission approved Enbridge’s Line 3 replacement project and preferred route. Line 3 is the largest proje