Acquisition of Hess Energy Marketing business 30 July 2013
Acquisition overview Acquisition of Hess Energy Marketing business for 731m (478m) plus additional working capital; one of the biggest Total US non-residential B2B energy suppliers in the Eastern US annualised sales volumes TWh 250…
Strong fit with existing business Establishes unique dual fuel presence across enlarged footprint Direct Energy Combined markets Business post-acquisition Markets Revenues: 4bn 2012 Gas volume: 77bcf Power volume: 51TWh…
Increased participation along gas value chain Integrated business along the gas value chain, benefiting from agreements with gas producers, transportation and storage capacity and strong customer relationships Existing portfolio of…
Attractive financial returns Builds on existing Direct Energy Business activities, approximately doubling EBITDA Hess Energy Marketing business expected to deliver 3% margins, 200m EBITDA in 2013 sustainable business model, with…