CPPIB-led vehicle to buy Encana's Colorado assets for $900 mln
The Canada Pension Plan Investment Board (CPPIB) and The Broe Group have agreed to acquire Encana Corp's Denver Julesberg Basin oil and gas assets in Colorado. The deal, which has a total consideration of about US$900 million, will see CPPIB own a 95 percent stake in the property, with U.S.-based Broe Group holding the remaining 5 percent. The acquisition, which is expected to close in the fourth quarter, includes all of the Denver Julesberg acreage comprising some 51,000 net acres. Calgary-based Encana has recently sold energy assets to other private equity-backed vehicles, including Brookfield Asset Management's Ember Resources Inc and Veresen Midstream LP.
8 October 2015•3 mins read
