Billy Bishop Toronto City Airport

This is X bought Y, I’m [Matt Croydon]( Today is Tuesday January 27th. Today the passenger terminal of the smaller of Toronto’s two biggest airports changed hands.¬†Nieuport Aviation Infrastructure bought the terminal at [Billy Bishop Toronto City Airport]( Nieuport is a consortium of fund managers and private equity folks. They bought it from Porter Aviation Holdings, Inc. for an undisclosed bunch of money. Porter is selling off the terminal so that it can focus on running an airline, which seems like a smart thing to do if you’re an airline. I think it’s a shrewd move by Nieuport too: the location is way closer to downtown than the larger Pearson International Airport so it is well positioned for lots of business aviation. It carries a bunch of airline passengers too, 2.4 million people in total in 2014. Seems like a solid bet to me.¬†Find out more at or follow us on Twitter, [@xboughty](

ETP buys RGP

This is X bought Y, I’m Matt Croydon. It’s Monday January 26th. Today Energy Transfer Partners LP, traded as ETP, said it was going to buy Regency Energy Partners LP (that’s RGP) for $11b. They’re both oil and gas pipeline companies. ETP already controls RGP by owning its general partner and 22% of the publicly traded shares. So why buy? ETB is up, RGP is down, oil prices are down, and efficiency is the word of the day. So why is this interesting? I think it speaks to the trend of consolidation we’ve been seeing in the petroleum sector and 11 billion dollars is a pretty big deal. The combined partnership would be the second biggest master-limited partnership, a kind of structure that makes it easier to pass on earnings without tax penalties. Find out more at or follow us on Twitter, @xboughty.

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