Deal Insight
Cenovus sells royalty subsidiary to Ontario Teachers' Pension Plan for US$2.6 billion
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Report summary
On 30 June 2015, Cenovus Energy announced it had entered into an agreement to sell its wholly-owned subsidiary, Heritage Royalty Limited Partnership, to Ontario Teachers' Pension Plan ('OTTP') for total consideration of Cdn$3.3 billion (US$2.6 billion). Assets in the transaction include royalty and mineral rights across 4.8 million acres across the Western Canadian Sedimentary Basin (WCSB) and gross overriding royalty interests (GORR) in Cenovus-operated oil projects Pelican ...
Table of contents
- Executive summary
- Transaction details
- Deal analysis
-
Strategic rationale
- Cenovus
- Ontario Teachers' Pension Plan
Tables and charts
This report includes 4 images and tables including:
- Transaction details: Table 1
- Cenovus Crown and Freehold leases
- Deal analysis: Table 1
- Gearing ratios: Focused Canadian peer group
What's included
This report contains:
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