Canadian Natural Resources (CNQ) Reports Acquisition of Painted Pony Energy Ltd.
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Canadian Natural Resources Limited Announces Acquisition of Painted Pony Energy Ltd.
August 10, 2020 5:00 AM EDTCALGARY, Alberta, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (Canadian Natural or the Company) announces it has entered into a definitive arrangement agreement with Painted Pony Energy Ltd. (Painted Pony) relating to the acquisition of all the issued and outstanding common shares of Painted Pony, for a cash consideration of $0.69 per share. The Company will also assume Painted Ponys total debt of approximately $350 million. This transaction value represents approximately 1% of Canadian Naturals enterprise value and does not materially impact the Companys balance sheet strength or... More
