Ontario Teachers wraps up $3.3. bln buy of Cenovus royalty assets
Ontario Teachers' Pension Plan has completed its previously-announced acquisition of Heritage Royalty LP, a former subsidiary of Cenovus Energy Inc, a Calgary-based oil business. Ontario Teachers paid $3.3 billion for Heritage, which holds about 4.8 million acres of royalty interest and mineral fee title lands in Western Canada. As reported by Reuters in June, the Canadian pension fund manager made the investment through its Natural Resources Group, which was set up in 2013 to acquire real assets, including oil and gas assets.
31 July 2015•2 mins read
