Industrial Bank selling property in long-term capital raise

Washington-based Industrial Bank, fresh off its $2.2 million sale of 202 11th St. NW in late December, is mulling over which of several other District properties it owns to put on the market as part of an extended capital raise over the next two years.

Industrial President and CEO B. Doyle Mitchell Jr. told me he hopes to generate about $10 million from the sale of three or four properties the bank has owned for decades. The money can help pay for some ongoing branch renovations and potential expansion,…

Houston energy companies close on multibillion-dollar acquisitions

Two of Houston’s largest public companies closed on two separate multibillion-dollar deals Feb. 13.

Houston-based pipeline giant Enterprise Products Partners LP (NYSE: EPD) completed the acquisition of Houston-based Oiltanking Parnters LP (NYSE: OILT) after Oiltanking unitholders approved the deal during a Feb. 13 meeting.

Enterprise on Oct. 1 announced it had bought controlling interest of the oil storage and terminal business in a nearly $4.6 billion deal as part of a larger acquisition process.…

Enticing product: Export Predator drone sets new endurance record

The export version of General Atomics’ Predator drone conducted a 40-hour test flight this week, according to Defense News, marking a record for the company’s aircraft.

The endurance record — flying at 10,000 feet for more than 40 hours — could make the drone (or UAV in DOD parlance) even more intriguing to foreign buyers.

Based on the MQ-1, the Predator XP is designed for intelligence, surveillance and reconnaissance missions. It cannot be fitted with weapons.

All foreign military are lengthy…

Report: Dynegy may have cleared regulatory hurdles for its $2.8B purchase of Duke Energy merchant plants

SNL Energy says Dynegy Inc. has reached a deal with the PJM Interconnection market monitor that could clear the way for its proposed $2.8 billion purchase of Duke Energy’s Midwest power fleet.

The deal also affects Dynegy’s related $3.45 billion deal to buy a larger fleet from Energy Capital Partners.

But Dynegy (NYSE: DYN) has asked the Federal Energy Regulatory Commission to rule on the sales quickly or risk killing the deals.

Dynegy announced in August that it agreed to buy Charlotte-based…

Clark Construction bulks up transportation work

Bethesda-based Clark Construction Group has formed a new business division named C3M Power Systems LLC to compete for transportation projects across the country.

The division is already working with the Washington Metropolitan Area Transit Authority on its Orange and Blue Line rehabilitation project in D.C. Other current projects include the Cincinnati Streetcar project and the West Virginia University Personal Rapid Transit system in Morgantown, West Virginia.

“Clark is always searching for opportunities…