Dominion Resources (D)
Dominion said it reached agreements with a Japanese and Indian firm for its $3 billion natural gas liquefaction project on the Chesapeake Bay known as Cove Point LNG. The facility, located in Lusby, Md., will access the Marcellus and Utica shale natural gas basin. Dominion plans to start construction on the facility in 2014 for a planned 2017 opening. The two buyers will get the produced natural gas through an 88 mile pipeline on which Dominion will provide a tolling service.
Genworth Financial (GNW)
The company struck a deal to sell its wealth management business to AqGen Liberty Holdings for $412.5 million. Genworth expects a loss of $40 million on the sale. It’s wealth management unit manages $20 billion in assets. The deal is expected to close later this year.
The insurer to a step closer in its proposed acquisition of Bermuda reinsurance firm Alterra Capital Holdings. Markel received approval from the state commissioner of insurance in Connecticut, the United Kingdom’s Financial Services Authority and Lloyd’s Market Services for certain conditions of the deal. Other approvals from the state of Delaware and regulators in Brazil are pending. The deal is expected to close during the first half of this year.
The company said Mark S. Cross no longer serves as senior vice president of packaging, as of March 25. MWV said it expects Cross will remain an employee until July 31, at which time he is expected to become a consultant to the company.
Owens & Minor (OMI)
Director Eddie Moore Jr. exercised options for 15,000 shares for a total of $307,000. He then sold the shares at market price for $33 per share or a total of $495,000.