The Abu Dhabi National Energy Co. (TAQA) announced that its wholly owned Canadian subsidiaries, TAQA North Ltd. and 1350849 Alberta Ltd., have entered into an agreement to acquire all issued and outstanding trust units and exchangeable shares of Calgary-based PrimeWest Energy Trust for cash consideration of C$26.75/unit, or approximately C$5 billion on a fully diluted basis. The transaction, subject to regulatory approval and adjustments, is expected to close by the end of November.
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Abu Dhabi National Energy to Pay C$5B for PrimeWest Energy Trust
The Abu Dhabi National Energy Company (TAQA) announced Monday that its wholly owned Canadian subsidiaries, TAQA North Ltd. and 1350849 Alberta Ltd., have entered into an agreement to acquire all issued and outstanding trust units and exchangeable shares of Calgary-based PrimeWest Energy Trust for cash consideration of C$26.75/unit, or approximately C$5 billion on a fully diluted basis. The transaction, subject to regulatory approval and adjustments, is expected to close by the end of November.
September 25, 2007
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