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Tokyo Gas to Buy Rockcliff Energy for $2.7 Billion
Tokyo Gas Co. said its subsidiary Tokyo Gas America Ltd. will purchase Rockcliff Energy II LLC for about $2.7 billion in a move to expand its US shale gas operations. Tokyo Gas America will acquire all the shares of Rockcliff, a portfolio company of Quantum Energy Partners, through its ownership interest in TG Natural Resources, the Japanese company said in a statement. The deal was signed on Dec. 15 and is scheduled to close on Dec. 29, it said. The purchase comes amid a wave of multi-billion dollar deals in the global energy industry as oil and gas producers figure out the best way to deploy windfall profits from ... (full story)