Feds OK Sinoenergy Investment's buy of Long Run Exporation

The proposed acquisition of Long Run Exploration Ltd (TSX: LRE) by Calgary Sinoenergy Investment Corp has received approval under the federal Investment Canada Act. The deal, announced in December, is valued at about $770 million, including debt. Based in Calgary, Long Run is an intermediate oil and natural gas company. It is backed by Canadian private equity firm Sprott Resource Corp.

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