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Trademark closes on 63-acre Waterside site in Fort Worth

Construction begins Oct. 20 on the development, to be anchored by a Whole Foods Market.

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UPDATE: $215M hotel, indoor ski project planned for Grand Prairie

Officials in Grand Prairie are expected later today to announce a $215 million project that will include a Hard Rock Hotel and an indoor ski facility.

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Two Fort Worth council members propose temporary single-family moratorium around TCU

The moratorium would apply to new permits for single-family homes around TCU, and give the city time to figure out what to do with a controversial proposed overlay in several neighborhoods around the university.

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Fresh Ebola fears hit airline stocks

DALLAS (AP) — News that a nurse diagnosed with Ebola flew on a plane full of passengers raised fear among airline investors that the scare over the virus could cause travelers to avoid flying.

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Landscape architect behind several TCU landmarks acquired

The Dallas design firm behind several Texas Christian University projects, as well as Globe Life Park in Arlington and AT&T Stadium, has been acquired by Rvi Planning + Landscape Architecture.

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National Oilwell Varco considers spinoff

 

HOUSTON (AP) — National Oilwell Varco Inc. said Tuesday that it is exploring a plan to spin off its distribution business to its shareholders as a separate, publicly-traded company.

The new company would provide maintenance, repair and operating supplies to energy and industrial companies.

The spinoff is expected to be finished in the first half of next year. It's subject to market conditions, regulatory approvals, and final board approval. The spinoff does not need shareholder approval, the company said.

After two acquisitions last year, the distribution business "now has the market size and scale to operate as a standalone, world class distribution company," said Chairman and CEO Pete Miller in a statement. He said the standalone distribution group would have 415 locations and operations in 26 countries. The units involved in the spin off would represent about 85 percent of the revenue of NOV's distribution and transmission segment for the six months ended June 30, the company said. That would amount to about $1.64 billion, based on the company's second-quarter report.

"As separate companies, the distribution business and the remainder of NOV will each be better positioned and have the enhanced operational flexibility to focus on their specific products, services and customers," he said.

National Oilwell Varco designs, builds, and sells equipment and components for oil and gas drilling and production, and also provides oilfield services and supply chain services to the oil and gas industry.

Its shares rose $1.99, or 2.5 percent, to $80.50 in premarket trading. The stock closed Monday at $78.50, up about 15 percent since the start of the year.
 

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