CPPIB's Crestone closes $900 mln buy of Encana's Colorado assets
Crestone Peak Resources LLC, an investment vehicle formed by Canada Pension Plan Investment Board (CPPIB) and The Broe Group, has closed its previously announced acquisition of Encana Corp's Denver Julesberg Basin oil and gas assets in Colorado. With the deal, announced last October at US$900 million, CPPIB has taken a 95 percent stake in the acquired property. The natural resources group of CPPIB, which holds nine investments valued at $1.4 million, has been engaged in four deals so far this year, including the Crestone acquisition and Wolf Midstream Inc's proposed buy of a 50 percent interest in Alberta's Access Pipeline.
29 July 2016•3 mins read
