Canbriam, Suncor close strategic land transaction deal
Canbriam Energy has officially closed the previously announced transaction with Suncor Energy Inc. to exchange all of Suncor’s northeast British Columbia mineral land holdings and consideration of $52 million for a 37 per cent equity interest in Canbriam.
“We are pleased to close this acquisition and look forward to the seamless integration of the additional Montney lands into our operations.” said Paul Myers, Canbriam’s President & Chief Executive Officer. “We would also like to welcome Suncor as a shareholder of Canbriam and its two representatives to our Board of Directors.”
RBC Capital Markets acted as exclusive financial advisor to Canbriam and Norton Rose Fulbright Canada LLP acted as legal counsel to Canbriam in connection with the transaction.
(Canbriam Energy Inc.)