TortoiseEcofin Announces Constituent Change Due to Merger and Acquisition Activity
TortoiseEcofin has announced that Aegion Corp (NASDAQ: AEGN) will be removed from the Ecofin Global Water ESG Index due to a merger with affiliates of New Mountain Capital, LLC. This change is expected to take effect at market open on May 17, 2021, pending merger approval. The Ecofin Global Water ESG Index focuses on companies in water infrastructure and management. The removal of AEGN from the index may influence investor sentiment and market positioning in the sector.
- Merger with New Mountain Capital could lead to strategic growth and enhanced market position.
- Potential for increased resources and operational efficiencies post-merger.
- Removal from the Ecofin Global Water ESG Index may negatively affect investor confidence and stock performance.
- Potential disruptions during the merger integration process could impact business operations.
LEAWOOD, KS / ACCESSWIRE / May 12, 2021 / TortoiseEcofin today announced that Aegion Corp (NASDAQ:AEGN) will be removed from the Ecofin Global Water ESG IndexSM (EGWESG) pending the close of the announced merger transaction with affiliates of New Mountain Capital, LLC. If approved, AEGN will be removed from the index at market open on Monday, May 17, 2021.
About TortoiseEcofin
TortoiseEcofin focuses on essential assets - those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, visit www.TortoiseEcofin.com.
The Ecofin Global Water ESG IndexSM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.
The Ecofin Global Water ESG IndexSM is the exclusive property of TIS Advisors, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Index. The Index is not sponsored by S&P Dow Jones Indices or its affiliates or its third-party licensors (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by TIS Advisors and its affiliates. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. Tortoise makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Contact Information
For more information contact Maggie Zastrow at (913) 981-1020 or info@tortoiseecofin.com.
SOURCE: TortoiseEcofin
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FAQ
Why is Aegion Corp being removed from the Ecofin Global Water ESG Index?
When will Aegion Corp be removed from the Ecofin Global Water ESG Index?
What is the significance of the Ecofin Global Water ESG Index?
How might the merger affect Aegion Corp's stock performance?
