LOEWS CORP
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
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Acquisitions, Divestitures, and Deconsolidations
Note 2. Acquisitions, Divestitures and Deconsolidations
On September 29, 2023, Boardwalk Pipelines acquired 100% of the equity interests of Williams Olefins Pipeline Holdco LLC (“Bayou Ethane”) from Williams Field Services Group, LLC for $355 million in cash.
During 2024, Loews Hotels & Co acquired all the remaining outstanding noncontrolling equity interests oftwo owned and consolidated hotels for$44 million.
During 2024, Loews Hotels & Co received proceeds of$23 million for the sale of an owned hotel.
During 2023, Loews Hotels & Co paid$46 million to acquire an additional equity interest in a previously unconsolidated joint venture property. The acquisition resulted in Loews Hotels & Co consolidating the joint venture property and recording a gain of $46 million ($36 million after tax). Upon acquisition, $232 millionin assets and$120 million in liabilities were consolidated at fair value.
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