TortoiseEcofin Announces Constituent Change Due to Merger and Acquisition Activity

Source: www.gulfoilandgas.com 2/17/2022, Location: North America

TortoiseEcofin announced that Suez SA will be removed from the Ecofin Global Water ESG IndexSM (EGWESG) as a result of the approved merger with Veolia Environment SA. Due to the merger, SEV will be removed from the index at market close on Friday, February 18, 2022.

As per index rules, SEV FP will be removed with a special rebalancing from Ecofin Global Water ESG IndexSM (EGWESG).

Special rebalancings in EGWESG are triggered by corporate actions such as mergers, bankruptcies, liquidations, and conversions in which the resulting weight of a single constituent exceeds the index’s 7.5% threshold and the target constituent weight exceeds certain weighting thresholds. Implementation of special rebalancings will be made in accordance with existing methodologies.


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