Replies to post #73574 on Lehman Brothers Financial SA (LEHNQ)

[JERSEYHAWG]

What about ARC the petroleum Company? Same NY address, same floor, same everything?

Just my wild hunch, IMHO. Now "IF" it's all those company's wrapped together as one, then YES, for using the NOL ..IMHO ..IMHO ..IMHO

POSSIBLY ? Lol

[cottonisking]

"Latham & Watkins Aids GE With $85M Oil Transport Stake
By Liz Hoffman
Law360, New York (October 24, 2011, 5:37 PM EDT) -- GE Energy Financial Services has bought an $85 million majority stake in private equity firm Lightfoot Capital Partners LP and plans to take Lightfoot's network of oil terminals public, the company announced Monday.
GE Energy Financial Services, a division of GE Capital, bought a 58 percent interest in Lightfoot, which focuses on energy investments, from asset manager Magnetar Capital LLC. GE will pick up shares in 10 petroleum storage and transport terminals across eight states that Lightfoot owns through subsidiary Arc Terminals LP.

“Our investment in Lightfoot Capital reflects our strategy of pursuing growth platforms in critical U.S. energy infrastructure, working with experienced management in areas we know well,” said Dan Castagnola, a managing director at GE Energy Financial Services in Houston.

Lightfoot said the capital infusion would help it find and close on acquisitions and accelerate its growth plans. CFO Michael Greenwood told Law360 that several deals are in the pipeline, but declined to comment on specifics.

The investment boosts GE's diversified presence in the midstream oil industry, which covers the transportation and storage steps between the drilling and refining industries. Arc Terminals operates petroleum terminals in Wisconsin, Illinois, Ohio, Alabama, the Carolinas, Maryland and Virginia, where it stores and transports gasoline, diesel and crude oil.

The firm already has midstream footholds in the natural gas sector after buying a 37 percent stake in Regency Energy Partners LP, a natural gas services partnership, in 2007. That deal, worth $603 million, gave a major boost to GE's natural gas portfolio, with more than 4,000 miles of pipelines and 13 plants throughout the Southeast and Midwest, according to a Regency release regarding the transaction.

GE now has investments in 40,000 miles of pipeline and $2.4 billion in midstream oil and gas assets, a spokesman for the company said Monday.

GE said it planned to take Lightfoot public through a master limited partnership, the same model Regency uses.

The company did not set out a timeline, and Greenwood said any discussions about an initial public offering would depend on market conditions and deals Lightfoot is currently negotiating.

“But our objective is to get it done as soon as possible,” he said.

GE's diverse energy holdings include infrastructure, project finance loans, oil and gas reserves, and significant and growing investments in renewable energy.

It has made acquisitions in all of those areas this month, picking up $1 billion of performing energy finance loans from the Bank of Ireland, contributing $46 million to a joint partnership to buy oil and gas wells in Colorado, and participating in a $37 million consortium investment in an Israeli solar technology company.

The remaining stakes in Lightfoot Capital are held by Atlas Energy LP, Magnetar Capital, Tortoise Capital Resources Corp. and Triangle Peak Partners Private Equity LP, as well as funds and accounts under management by BlackRock Investment Management LLC, the company said.

Lightfoot declined to elaborate on ownership stakes, and Magnetar Capital did not return requests for comment.

GE was represented in the deal by Latham & Watkins LLP.

Counsel information for Magnetar Capital was not immediately available.

--Editing by Cara Salvatore."

https://www.law360.com/articles/279971/latham-watkins-aids-ge-with-85m-oil-transport-stake