Deal Insight
China Investment Corporation acquires assets from Penn West Energy Trust for Cdn$817 million
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Report summary
Penn West Energy Trust has entered into a joint venture agreement with China Investment Corporation (CIC) in order to develop Penn West's bitumen assets located in the Peace River area of northern Alberta. For a consideration of Cdn$817 million (US$803 million), CIC will acquire a 45% interest in the assets. Separate to this deal, CIC will also subscribe for 5% of Penn West's issued and outstanding units for about Cdn$435 million (US$428 million). The deal is scheduled to close in 1 ...
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 1 images and tables including:
- Oil & gas pricing and assumptions: Table 1
What's included
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