PETRONAS Completes Purchase of Progress Energy
Calgary, Alberta-based Progress Energy Resources Corp. announced the completion of its purchase by PETRONAS, a Malaysian oil and gas company, for C$5.2 billion. The two companies entered into an acquisition agreement in June 2012. Progress Energy, which engages in the exploration, development and production of natural gas in Western Canada, obtained a significant equity investment from Canada Pension Plan Investment Board in 2010.
14 December 2012•2 mins read
