NGP-backed Cygnet Energy to Acquire Kiwetinohk Energy
Cygnet Energy has agreed to acquire Kiwetinohk Energy Corp (KEC), a Calgary-based producer of natural gas, natural gas liquids, oil, and condensate.
The acquisition price is set at C$24.75 per KEC share in cash, totaling approximately C$1.4 billion ($1 billion), including debt.
- Funding for the acquisition is provided primarily by existing Cygnet investor NGP Energy Capital Management.
- Carlyle Group, a new investor in the company, also contributes to the funding.
No direct quote available in the provided text.
Author's summary: Cygnet Energy acquires Kiwetinohk Energy for $1 billion.
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