BP intends to acquire Archaea Energy, a major producer of renewable natural gas from waste, in a deal that could close by the end of this year pending regulatory approval. The transaction is being valued at approximately $4.1 billion based on a price of $26 per share and $800 million of net debt. Once the deal is finalized, Archaea is expected to operate as a subsidiary within BP. Texas-based Archaea currently operates 50 RNG and landfill gas-to-energy projects in the U.S., with more than 80 other projects in development. More >>
