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CKH HOLDINGS's Canadian Energy Firm Cenovus Energy Successfully Acquires MEG
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CKH HOLDINGS (00001.HK)'s Canadian energy company, Cenovus Energy (CVE.US), has successfully acquired oil sands company, MEG Energy Corp, as announced by Cenovus Energy. Following the acquisition, CKH HOLDINGS and the Li family remain the largest single shareholders, collectively holding nearly 30% of its shares. Total consideration paid by Cenovus Energy includes CAD752 million of cash paid for 25 million MEG shares acquired through open market transactions; CAD3.44 billion of cash paid to MEG shareholders, other than Cenovus, under the terms of the agreement; 143.9 million Cenovus common shares issued to MEG shareholders, other than Cenovus, under the terms of the agreement; and approx. CAD800 million of estimated net debt assumed, on closing. AASTOCKS Financial News Website: www.aastocks.com |
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