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Macquarie Bank completes acquisition of US energy assets |
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02 July 2004 Further to its news release dated 15 December 2003, Macquarie Bank today announced the completion of its acquisition of Thermal Chicago Corporation, a subsidiary of Exelon Corporation for US$134 (A$191) million. The acquisition also includes the purchase of Exelon Thermal Technologies Inc. and Northwind Midway LLC. As announced at the time, Macquarie will initially provide acquisition debt and equity for 100 per cent of the purchase price, and is in the process of evaluating long-term financing options for the businesses. The Thermal businesses provide primarily chilled water to customers from a centralised plant via underground piping for cooling purposes. Customers are typically office buildings that sign up for services under long-term contracts. The businesses consist of five district plants in downtown Chicago servicing 97 contracted customers and a site specific heating and cooling plant at Midway Airport in Chicago. Macquarie Bank is in discussions regarding the transfer of the Thermal businesses to the recently announced US-based infrastructure company, Macquarie Infrastructure Assets LLC. The annualised impact on Macquarie’s profit of consolidating the Thermal businesses will be marginally positive, and the impact on capital will not be significant. For further information, please contact:
Matthew Russell
Erica Sibree |
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information | Privacy
policy ©2004 Macquarie Bank Limited ABN 46 008 583 542 |
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Where we provide any advice on this website, it has been prepared without considering your objectives, financial situation or needs. Before acting on any advice on this website, you should consider its appropriateness to your circumstances and, if a current offer document is available, read the offer document before acquiring products named on this website. Past performance of any product described on this site is not a reliable indication of future performance. Any Macquarie subsidiary noted on this page is
not an authorised deposit-taking institution for the purposes of the Banking
Act (Cwth) 1959. That subsidiary's obligations do not represent deposits
or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL).
MBL does not guarantee or otherwise provide assurance in respect of the
obligations of that subsidiary, unless noted otherwise. |
