MIE-led group closes $722 mln buy of Canadian E&P business​

MIE Holdings Corp, a Hong Kong holding company, said an affiliate has closed its acquisition of CQ Energy Canada Partnership, a Canadian oil and gas exploration and production business, from the United Kingdom's Centrica Plc. The deal, announced in June, saw Centrica sell the business to an MIE-led consortium for $722 million. The consortium included Can-China Global Resources Fund, a private equity fund managed by Hong Kong's MEC, and Switzerland's Mercuria Energy Group Ltd. The partnership reflects mostly Western Canadian natural gas assets that currently pump the equivalent of 56,070 barrels of oil a day.

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