M&As this week: Enbridge, BTG Pactual, EOG Resources

Enbridge Inc has agreed to acquire Spectra Energy Corp for $28bn. The deal will include a transfer of Enbridge shares to Spectra Energy shareholders at a ratio of 0.984:1.

Scheduled for completion in the first quarter of 2017, the acquisition will allow Enbridge to extend its midstream operations in the US and Canada.

Upon completion of the acquisition, the newly formed company Enbridge Inc will be owned by the shareholders of Enbridge (57%) and Spectra Energy (43%).

RBC Capital Markets is the financial advisor, while Sullivan & Cromwell LLP and McCarthy Tetrault LLP are the legal advisors to Enbridge on the transaction.

Banco BTG Pactual SA (BTG Pactual) plans to dispose its 50% interest in Petrobras Oil & Gas B.V.

BTG previously spent $1.55bn for the acquisition of a 50% stake in Petrobras Oil & Gas in 2013.

BTG has retained Natixis SA as the financial advisor for the transaction.

EOG Resources, Inc has agreed to acquire Yates Petroleum Corporation. The deal implies a purchase consideration of $2.45bn, which will be funded through a combination of cash and equity.

Yates Petroleum’s assets include 1.6 million net acres with a production rate of approximately 29,600 barrels of oil equivalent a day (boed).

Akin Gump Strauss Hauer & Feld LLP is the legal advisor to EOG Resources for the deal, which is scheduled for completion in October.

The acquisition will allow EOG Resources to expand its asset base in the Delaware and Powder River basins, US.