Insignia Energy Agrees to Privatization by Brookfield

Calgary-based Insignia Energy Ltd., a publicly listed junior oil and gas exploration and development company, has agreed to be taken private by Canadian private equity firm Brookfield Capital Partners. Brookfield has been an investor int he company since 2008 and currently holds a majority position. The proposed transaction, which was announced earlier in May, is valued at approximately $87 million. The company's board of directors (with interested directors abstaining) has unanimously approved the deal, which will be considered by a special meeting of shareholders in mid-July.

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