Singapore's PO&G to acquire PE-backed Canbriam Energy
Pacific Oil and Gas Ltd (PO&G) has agreed to acquire Canbriam Energy Inc, a Calgary-based developer of liquids-rich natural gas resources. Terms weren't released for the deal, which is expected to close before July 1, 2019. Shareholders accounting for more than 90 percent of Canbriam's outstanding shares have agreed to vote for the transaction. The company's owners include ARC Financial Corp, Ontario Teachers’ Pension Plan and Warburg Pincus. PO&G is the energy development affiliate of Singapore conglomerate Royal Golden Eagle. Canbriam and PO&G said the deal will create a well-capitalized Canadian growth platform positioned to develop Canbriam's asset base in the Montney region of British Columbia.
14 May 2019•4 mins read
