PE-backed Endurance Energy to acquire StonePoint Energy
Endurance Energy Ltd, a portfolio company of U.S. private equity firm Warburg Pincus, has agreed to buy StonePoint Energy Inc (TSX-V: STO), a Canadian junior oil and gas business. Endurance will acquire all of StonePoint's outstanding common shares for $0.078125 per share in cash. Directors and executive officers of StonePoint and certain investors reflecting about 24 percent of the company's shares have committed to vote for the deal at a special shareholders meeting. Based in Calgary, Endurance is focused on the acquisition and development of natural gas assets in Western Canada. It has been backed by Warburg Pincus since 2012.
7 July 2015•6 mins read
