Open again: Roughly six months after being shuttered by the August flood, the Our Lady of the Lake Physician Group North Point clinic at 18901 Greenwell Springs Road has reopened. The clinic was only accessible by boat during the widespread flooding in the Central area. A mobile clinic set up in the parking lot immediately after the flood operated for two weeks before the staff relocated to office space at the Lake After Hours clinic on O’Neal Lane. The group provided uninterrupted patient care for six months while the clinic was being repaired. The clinic reopens with a new full-time pediatrician on staff, Dr. Michelle Salassi. She joins family medicine physicians Dr. Herschel Dean and Dr. Robert Dean at the clinic, as well as three physician assistants, a nurse practitioner and more than 25 staff members. The clinic is open from 7 a.m. to 7 p.m. on weekdays.
In the black: Exporting liquefied natural gas is officially profitable for Houston’s Cheniere Energy, FuelFix.com reports. After becoming the first U.S. company to begin exporting LNG early last year, Cheniere on Tuesday reported its first quarterly profit now that revenue is streaming in regularly. Cheniere posted a $110 million fourth-quarter profit, compared with a $291 million loss during the same period a year earlier. For all of 2016, Cheniere still reported a $610 million loss, after losing $975 million in 2015. Cheniere has two of its natural gas liquefaction facilities, called trains, online and producing LNG for export at its Sabine Pass terminal in Louisiana near the Texas border. Out of six tentatively planned Sabine Pass trains, a third is expected to come online in March, while a fourth is slated for the fall. A fifth is expected to be finished in 2019, while the sixth doesn’t yet have a timeline. Read the full story.
Here’s the deal: Lafayette-based IberiaBank announced late Tuesday that it will acquire Sabadell United Bank of Miami, Florida, for $1 billion in a cash and stock transaction. The acquisition was recently approved by the IberiaBank board of directors and by Banco Sabadell, the Barcelona, Spain-based parent company of Sabadell United, according to a news release says. Under the terms of the agreement, IberiaBank will purchase Sabadell United for $803 million in cash and approximately 2.61 million in IberiaBank shares. The Lafayette bank expects to finance the cash portion of the transaction, in part, through a common stock offering of roughly $500 million and plans to use $280 million net proceeds of the December 2016 common equity sale to support the acquisition. Once completed, Sabadell United will merge with and into IberiaBank, and Banco Sabadell will own approximately 4.9% of IberiaBank’s stock. The deal is expected to close some time in the second half of this year. Read the full announcement.
