Riverstone seeks to hike stake in Canadian International Oil
Canadian International Oil Corp (CIOC) announced that U.S. energy private equity firm Riverstone Holdings has offered to acquire CIOC shares and warrants it does not currently own. Riverstone, which invested an initial $200 million in CIOC in March 2014, has proposed to buy the company's remaining common shares and warrants (with an exercise price of $1.20) for $1.675 per common share and $0.475 per warrant. The offer is scheduled to remain open until December 29th. Calgary-based CIOC holds assets in the Deep Basin of West Central Alberta.
23 November 2015•8 mins read
