ARC, KERN, other PE investors sell $633 mln in Seven Generations' shares
Oil and gas company Seven Generations Energy Ltd has closed a $633 million secondary offering of common shares by several of its major founding investors. The shareholders are Canadian private equity firms ARC Financial and KERN Partners, and U.S.-based Natural Gas Partners and ZBI Ventures. The shares were sold at a price of $25.00 per share to a group of institutional investors. Following the transaction, the selling investors will continue to hold around 31% of total common shares in the Calgary-based Seven Generations. CEO Pat Carlson said the company is currently evaluating potential liquidity alternatives. Canada Pension Plan Investment Board (CPPIB) is also a backer of Seven Generations.
7 April 2014•3 mins read
