JOG Capital's Crocotta to be bought by Long Run in $357 mln deal
Crocotta Energy Inc (TSX: CTA) has agreed to be bought by Long Run Exploration Ltd (TSX: LRE) in a $357 million deal that is expected to close in August. Under the agreement, each common share of Crocotta will be exchanged for 0.415 of a common share of Long Run, plus one share of a new Montney exploration and production business, and 0.2 of a common share purchase warrant of that business. Based in Calgary, Crocotta is a junior oil and gas company and portfolio investment of Canadian private equity firm JOG Capital. A Calgary-based intermediate oil and natural gas company, Long Run is backed by Canadian private equity firm Sprott Resource Corp.
13 June 2014•10 mins read
