Orange Capital buys additional interest in Bellatrix Exploration
U.S. hedge fund Orange Capital has acquired additional shares in Bellatrix Exploration Ltd (TSX, NYSE MKT: BXE), a Calgary-based oil and gas company. Upon completion of the transaction, Orange Capital will hold around 10.21 percent of the company's outstanding shares. Orange Capital said it intends to engage Bellatrix's management and board of directors in discussions regarding opportunities to maximize shareholder value. The deal follows a $250 million commitment to Bellatrix by Canadian Non-Operated Resources Corp, which is backed by U.S. private equity firm Riverstone Holdings and other investors.
6 October 2014•3 mins read
