Berkshire Extends Energy Bet in Deal for Arsenal’s Charter

[JobJakraphan]

Berkshire Extends Energy Bet in Deal for Arsenal’s Charter
By Zachary Tracer
ธันวาคม 12, 2014 5:24 หลังเที่ยง EST


Berkshire Hathaway Inc. (BRK/A) agreed to buy Charter Brokerage from Arsenal Capital Partners as Chairman Warren Buffett extends bets in energy as oil prices tumble.

Charter provides logistics to the petroleum and chemical industries, according to a statement today from Omaha, Nebraska-based Berkshire that didn’t disclose terms.

The deal is the second announced by Buffett’s company this month in the energy industry. Berkshire’s Lubrizol said Dec. 1 that it agreed to buy two units from Weatherford International Plc for at least $750 million after the seller was squeezed by lower oil prices. That purchase includes a business that sells additives used in fracking.

“Charter Brokerage is a high quality business with consistently strong financial performance that fits well within Berkshire,” Buffett, 84, said in the statement.

Arsenal invests in health-care and specialty industrial companies. The New York-based firm has about $1.7 billion of committed equity capital, according to the statement.

Morgan Stanley was the banker for Charter, which got legal advice from Kirkland & Ellis LLP. Munger Tolles & Olson LLP provided legal advice to Berkshire.


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